Asked by Dinero Hughes on Apr 25, 2024
Verified
Goods are allocated in a market system by price rationing.
Price Rationing
The process of distributing goods and services among consumers by setting a price level that balances demand with supply.
Allocated
Distributed or assigned resources, time, or funds to specific projects, tasks, or purposes.
- Acknowledge the operational mechanisms of price and nonprice rationing in the distribution of limited resources.
Verified Answer
AM
Alfonso Miguel David7 days ago
Final Answer :
True
Explanation :
In a market system, goods are allocated based on price rationing, where prices adjust due to supply and demand, determining who can purchase the goods.
Learning Objectives
- Acknowledge the operational mechanisms of price and nonprice rationing in the distribution of limited resources.
Related questions
Nonprice Rationing Will Happen Whenever There Is Excess Supply in ...
With Price Rationing, Those Who Are Both Able and Willing ...
The Government Imposes a Price Ceiling on Gasoline That Is ...
The Type of Nonprice Rationing That Most Closely Approaches the ...
Issuing Coupons, Waiting in Line, and Catering to Favored Customers ...