Asked by Dinero Hughes on Apr 25, 2024
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.
Learning Objectives
- Acknowledge the operational mechanisms of price and nonprice rationing in the distribution of limited resources.
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