Refers to the quality of being scarce or rare, often used in economic, ecological, or collectible contexts.
This mineral is traded at a high price because of its rarity.
The scarcity of water resources has become a serious problem.
Compound of 希少 (kishō, 'rare, scarce') + 性 (-sei, '-ness, -ity'), forming a noun meaning 'scarcity' or 'rarity'.