Which good is considered economically scarce?

Economically scarce goods are those that are limited in supply relative to demand, meaning they are not available in sufficient quantities to satisfy everyone who wants to use them.

Water from rain in Hawaii can be considered economically scarce due to several factors. Although it may seem abundant when it rains, the availability of freshwater is often limited by the geography of the islands, climate conditions, and the distribution of population and agriculture. For instance, water has to be captured, stored, and managed effectively to meet the needs of residents, tourists, and agriculture. This management of water resources signifies that while water might fall freely from the sky, there is often not enough to meet all demands at all times, particularly during drought periods or when there is a high level of consumption.

In contrast, air in the atmosphere, sand on beaches, and solar energy are typically viewed as abundant resources. Air is freely available and does not have a competitive price because it is plentiful; likewise, while sand can be limited in certain locations, it is generally available along most coastlines. Solar energy is an abundant resource that is continuously available; technology may limit its capture and use, but it is not scarce in the same economic sense as freshwater. Thus, the concept of scarcity in economics focuses