Asked by Jalyn Froese on May 07, 2024
Verified
Queuing, or waiting in line, is an alternative rationing mechanism to price rationing.
Queuing
The process of forming or waiting in a line, often applied to the theory studying the behavior of lines to improve service efficiency.
Rationing Mechanism
A system or method used to distribute scarce goods or services among competing users.
- Identify the function of rationing methods like ration coupons and queuing when there is an overabundance of demand or supply.
Verified Answer
NT
Nikky TheLightAngelMay 11, 2024
Final Answer :
True
Explanation :
Queuing is used as an alternative to price rationing when goods or services are limited; instead of raising prices to reduce demand, consumers wait in line, allocating resources on a first-come, first-served basis.
Learning Objectives
- Identify the function of rationing methods like ration coupons and queuing when there is an overabundance of demand or supply.
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