what does scarcity mean? Share with your friends Share 1 Kaartika Chitturi answered this It means shortage of something or insufficient E.g: In places like Somalia and Kenya there is not enough rainfall. 2 View Full Answer Laavanya Gupta answered this the state of being scarce or in short supply; shortage. "a time of scarcity" 1 Shashank Kumar answered this Scarcity means "Shortage". 2