The strict definition of scarcity is when demand for something outstrips supply or the basic premise that there is a finite amount of human and non human resources, so at some point there will be a shortage. This term has come to be associated increasingly with our mental condition and is often referred to as the scarcity mindset which is a belief that resources we rely on to live and survive (e.g., money, time, love or opportunities) are limited and less than is required to satisfy our needs. This results in a focus on what is lacking - much like the gap in the term the gap versus the gain which I wrote about in this post- the focus is on what I don’t have (whether it is real or significant) rather than what I do have. I like to think of this as the opposite of the gratitude mindset which is when I am grateful for the abundance of the wonderful things in my life rather than focusing on what is missing.