How Is the Concept of Scarcity in Block Space Similar to the Supply Constraint on a Physical Commodity Future?

Scarcity in block space is an artificial, protocol-enforced constraint on the supply of transaction capacity, which drives up the "price" (fee) when demand is high. A physical commodity future, such as oil, is subject to a natural supply constraint (finite resource, extraction limits).

Both constraints create a market where price is determined by the intersection of limited supply and fluctuating demand.