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The phrase "scarcity" is grammatically correct and can be used in written English
"Scarcity" refers to a lack or shortage of something, particularly resources or goods. Example: The recent drought has caused a scarcity of water in the region.
Exact(58)
Prices reflect that scarcity.
So is scarcity value.
The explanation is scarcity.
"There's artificial scarcity everywhere.
One is scarcity value.
Sometimes, that bait is scarcity.
The scarcity factor has gone".
People assign value to scarcity.
Eventually, material scarcity would disappear.
Scarcity encourages people to hold the rites of scarcity sacred.
Take the idea of scarcity.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com