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A scarce good is a good that has more quantity demanded than quantity supplied at a price of $0. The term scarcity refers to the possible existence of conflict over the possession of a finite good. One can say that, for any scarce good, someone's ownership and control excludes someone else's control. [20]
On September 1, 2009, China announced plans to reduce its export quota to 35,000 tons per year in 2010–2015 to conserve scarce resources and protect the environment. [54] On October 19, 2010, China Daily , citing an unnamed Ministry of Commerce official, reported that China will "further reduce quotas for rare-earth exports by 30 percent at ...
Rare-earth ore, shown with a United States penny for size comparison. A rare-earth mineral contains one or more rare-earth elements as major metal constituents. Rare-earth minerals are usually found in association with alkaline to peralkaline igneous complexes in pegmatites.
In the future, international cooperation in sharing scarce resources will become increasingly important. Where scarcity is concentrated on the non-renewable resources that play the most important role in meeting needs, the most essential element for the realisation of human rights is an adequate and equitable allocation of scarcity.
Rationing is the controlled distribution of scarce resources, goods, or services, or an artificial restriction of demand. Rationing controls the size of the ration, which is one person's allotted portion of the resources being distributed on a particular day or at a particular time.
In strategic planning, resource allocation is a plan for using available resources, for example human resources, especially in the near term, to achieve goals for the future. It is the process of allocating scarce resources among the various projects or business units.
Hoarding resources can prevent or slow products or commodities from traveling through the economy. [4] Subsequently, this may cause the product or commodity to become scarce, causing the value of the resource to rise. A common intention of economic hoarding is to generate a profit by selling the product once the price has increased.
This total available water resource gives an idea of whether a country tend to experience physical water scarcity. [32] This metric has a drawback because it is an average. Precipitation delivers water unevenly across the planet each year. So annual renewable water resources vary from year to year.