The best description of scarcity here is the gasoline shortage in the 1970s.
Scarcity in economics means that a particular resource is unavailable relative to the demand for that good. there was a scarcity of Petroleum products in the 1970s. Gasoline is a product of petroleum.
The scarcity of gasoline in the 1970s is a good example of scarcity. The body responsible for the supply called OPEC had caused a disruption in the availability of Petroleum products. This was what brought about the scarcity.
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