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Scarcity also includes an individual's lack of resources to buy commodities. [2] The opposite of scarcity is abundance. Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself". [3] "The best example is perhaps Walras' definition of social wealth, i.e., economic goods. [3] 'By social wealth ...
Relative deprivation is the lack of resources to sustain the diet, lifestyle, activities and amenities that an individual or group are accustomed to or that are widely encouraged or approved in the society to which they belong. [1]
It usually references a state or condition in which a person or community lacks the financial resources and essentials for a basic standard of living. United Nations: Fundamentally, poverty is a denial of choices and opportunities, a violation of human dignity. It means lack of basic capacity to participate effectively in society.
That part of the actual resource that can be developed profitably with the available technology is known as a reserve resource, while that part that can not be developed profitably due to a lack of technology is known as a stock resource. Various fossil fuels, a nonrenewable resource - oil, coal, and natural gas
Resource slack, in the business and management literature, is the level of availability of a resource. Resource slack can be considered as the opposite of resource scarcity or resource constraints. The availability of resources can therefore be defined in terms of resource slack versus constraints, as two ends of a continuum. [1]
Water scarcity (closely related to water stress or water crisis) is the lack of fresh water resources to meet the standard water demand. There are two types of water scarcity. One is physical. The other is economic water scarcity. [2]: 560 Physical water scarcity is where there is not enough water to meet all demands
Social deprivation is the reduction or prevention of culturally normal interaction between an individual and the rest of society. This social deprivation is included in a broad network of correlated factors that contribute to social exclusion; these factors include mental illness, poverty, poor education, and low socioeconomic status, norms and values.
The fact that the teachers from the suburbs leave appears to be an influential factor for schools hiring more teachers from that area. The lack of adequate education for children is part of what allows for the cycle of poverty to continue. [30] The problem undergoing this is the lack of updating the knowledge of the staff.