Commodity Value

Scarcity and Scarcity Value
Scarcity refers to the limited nature of a resource or commodity, while scarcity value is the portion of a commodity's value that is attributable to its limited availability. Scarcity value arises when a good's demand surpasses its available supply.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.