Asked by Enrique Cuevas on May 02, 2024
Verified
The most common of all nonprice rationing systems is
A) ration coupons.
B) queuing.
C) favored customers.
D) price ceilings.
Nonprice Rationing
Methods of allocating goods and services without adjusting prices, often used in times of shortages, such as queuing or allocating based on need.
Queuing
The process or system by which people or items are arranged in a line awaiting their turn to be attended to or processed.
Ration Coupons
Tickets or coupons that entitle individuals to purchase a certain amount of a given product per month.
- Appreciate the role of nonprice rationing models in controlling excess demand.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
B
Explanation :
Queuing, or waiting in line, is the most common nonprice rationing system. It is widely used in various situations where demand exceeds supply and is a method to distribute goods or services without changing the price.
Learning Objectives
- Appreciate the role of nonprice rationing models in controlling excess demand.