Both Uses

scarcity
in
The Tempest
(Auto-generated)

Scarcity and want shall shun you; Ceres' blessing so is on you.†
Scene 4.1 *

scarcity = shortage (having an amount that is less than desired)
I perceive, these lords At this encounter do so much admire That they devour their reason, and scarce think Their eyes do offices of truth, their words Are natural breath; but, howsoe'er you have Been justled from your senses, know for certain That I am Prospero, and that very duke Which was thrust forth of Milan; who most strangely Upon this shore, where you were wrack'd, was landed To be the lord on't.†
Scene 5.1

scarce = in short supply OR barely or hardly (by a small margin)

Definitions:

(1) (scarcity)
shortage (having an amount that is less than desired)
(2) (meaning too rare to warrant focus)
More rarely (and typically in classic literature), scarce can be short for scarcely or hardly or barely or by a small margin -- such as in "She was scarce ten years old," or "I scarce know why."