Asked by Chelsea Solis on Apr 29, 2024
Verified
Attempts to bypass price rationing in the market
A) are efficient.
B) are easily administered.
C) are costly.
D) always fail.
Price Rationing
The process by which the market system allocates goods and services to consumers when quantity demanded exceeds quantity supplied.
Bypass
To go around or avoid an obstacle or regulation, often by using alternative methods or routes.
Costly
Incurring a high expense or requiring considerable resources, often more than expected or desired.
- Acknowledge and grasp the techniques of market rationing that exclude the use of price as a factor.
Verified Answer
AP
Ankit PatelApr 30, 2024
Final Answer :
C
Explanation :
Attempts to bypass price rationing often involve alternative mechanisms like queues, lotteries, or favoritism, which can introduce inefficiencies and additional costs, both in terms of resources and time.
Learning Objectives
- Acknowledge and grasp the techniques of market rationing that exclude the use of price as a factor.