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by hibikir 11 days ago
Without realizing it, you are coming close to the economics definition of relative scarcity. If we went by uour definition, basically nothing is scarce, ever, because it's possible to provide it, but the prices are set in a way that is completely unrelated to the cost of production + risk related margin. Instead prices resemble what would be an auction. And it all only works out because demand is elastic, so there are prices that people refuse to pay, because for their use case, they'd lose money.

Housing, collectors items, access to the time of a top of the line doctor... all relatively scarce. And You'd be laughed out pf most rooms if you claimed those things aren't scarce.