The Scarcity Principle

The Scarcity Principle is a psychological concept that suggests people tend to value things more when they perceive them as limited or hard to obtain. When an item, opportunity, or resource appears scarce or in short supply, it increases our desire to secure it, because we associate rarity with higher value. This principle is often used in marketing and sales to encourage quick decisions, as consumers may feel a sense of urgency to act before the opportunity disappears. Overall, scarcity influences perceptions of worth and can drive behavior based on the fear of missing out.