Scarce Resources Definition. Oil and natural gas are also growing increasingly scarce. Resources that are commonly accepted as being scarce throughout the world include water food and forests.
When sales demand is in excess of production capacity for a company the resources responsible for limiting the output should be identified these scarce resources are known as limiting factors within a short term time period it is unlikely that production constraints can be removed and additional resources acquired. Term scarce resource definition. Scarce resources are used to produce scarce goods.
Like the more general society wide condition of scarcity a given resource is scarce because it has a limited availability in combination with a greater potentially unlimited productive use.
This situation requires people to make decisions about how to. In wealthier places in which people can afford to pay premium prices for resources that may not be in plentiful supply the shortage is not likely to be felt as severely as in economically deprived locations. Meat and butter were scarce during the war. Scarce resources are used to produce scarce goods.
