Scarcity is a big economic principle surrounding the basic idea of something being in short supply. For our purposes here, however, we’re going to define scarcity as the “opposite of sticker shock.” Our definitions:

Sticker Shock – Something you experience when you see how expensive things are. When you first move to Alaska, you will experience this. Apples are nearly $3/lb?! (not at Costco, though still more expensive than outside Alaska).

Scarcity – When you leave Alaska and realize everything is so cheap, but those prices will only last until you go back to expensive Alaska!