What is Manufactured Scarcity?
In: Economics
In the super basic model, resources or products have a supply (availability of it naturally, production capability, willingness of people to produce it, etc) and demand (how much people want it, how much is used for different purposes, and so on).
The interplay of supply and demand can result in a “price” attached to this resource. If supply is limited, and demand is high, the price to obtain it will be high. If supply is high, and demand is low, the price will be low.
Manufactured/artificial scarcity is when supply is *purposely* kept low–often through a monopoly or limitation set on how much to make available *regardless* of its ease of production or availability for higher production capability. This raises a price for a good beyond what it would shake out to be as a natural market value.
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