Defined. Offline Version: PDF. Term scarcity Definition: A pervasive condition of human existence that exists because society has unlimited wants and needs, but limited resources used for their satisfaction. In other words, while we all want a bunch of stuff, we can't have everything that we want.
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For IBM PC compatible computers, BIOS (/ Ë b aÉª É s / BY-oss; an acronym for Basic Input/Output System and also known as the System BIOS, ROM BIOS or PC BIOS) is non-volatile firmware used to perform hardware initialization during the booting process (power-on startup), and to provide runtime services for operating systems and programs.