Homonym: Lack (Deficiency)
Lack refers to the absence or deficiency of something that is needed or desired. It can apply to various contexts, such as a lack of resources, skills, or opportunities. For example, when a community experiences a lack of clean water, it may face health issues and hindered development.
In economics, lack can indicate scarcity, where the demand for a product or service exceeds its supply. This can lead to increased prices and competition among consumers. Understanding lack is essential for addressing social issues and improving overall well-being in society.