Authors
Renato Civitillo
Publication date
2023/11/22
Book
Encyclopedia of Sustainable Management
Pages
28-34
Publisher
Springer International Publishing
Description
There are three critical economic concepts or distinct branches of inquiry: scarcity, abundance, and sufficiency (Daoud 2018). Scarcity is described as a gap between a need or wants for a good (limited resource) and the theoretically unlimited wants of consumers (Benammar 1999). The present economy concept is a scarcity economy. Abundance occurs in a reversed situation, while sufficiency arises when requirements and goods are balanced (Daoud 2018). Abundance is often compared to having a relative degree of fullness or plentifulness that flows out of a deep inner sense of personal worth and security (Covey 2004). It is a model of understanding with plenty out there for everybody. The outcome of the abundance mentality in business is sharing prestige, recognition, and profits which opens new possibilities, options, and alternatives in doing business (Covey 2004).
Total citations
Scholar articles
R Civitillo - Encyclopedia of Sustainable Management, 2023