pen·u·ry

[pen-yuh-ree]
noun
1.
extreme poverty; destitution.
2.
scarcity; dearth; inadequacy; insufficiency.

Origin:
1400–50; late Middle English < Latin pēnūria; akin to Greek peîna hunger, penía poverty


1. indigence, need, want.


1. wealth.
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Based on the Random House Dictionary, © Random House, Inc. 2013.
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World English Dictionary
penury (ˈpɛnjʊrɪ) [Click for IPA pronunciation guide]
 
n
1.  extreme poverty
2.  extreme scarcity
 
[C15: from Latin pēnūria dearth, of obscure origin]

Collins English Dictionary - Complete & Unabridged 10th Edition
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00:10
Penury is a GRE word you need to know.
So is gossamer. Does it mean:
To refuse or deny oneself some rights, conveniences, etc.; reject; renounce.
a fine, filmy cobweb seen on grass or bushes or floating in the air in calm weather; any thin, light fabric with this quality
Etymonline
Word Origin & History

penury
early 15c., from M.Fr. pénurie, from L. penuria "want, need," related to paene "scarcely."
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
But this air of possibility amidst penury is in peril.
But in penury, arrogance and conceit may give way to humility, diplomacy and
  learning to be discreet.
The surplus faded away and they were reduced to penury.
Henceforth, though he never stood at the stake, he suffered the martyrdom of
  penury and distress.
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