Asked by flora Verdura on May 10, 2024
Verified
The adjustment of ________ is the rationing mechanism in market economies.
A) quantity
B) price
C) supply
D) demand
Rationing Mechanism
a system or policy by which scarce goods or services are distributed.
Market Economies
Market economies are economic systems in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses with minimal government intervention.
Adjustment
The process of modifying something to achieve a desired outcome, often used in the context of economic policies, mechanisms, or personal changes.
- Comprehend how prices serve to allocate resources in a market economy.
Verified Answer
CC
Cheryl CrosgroveMay 10, 2024
Final Answer :
B
Explanation :
Price is the rationing mechanism in market economies, as it adjusts to equilibrate supply and demand, allocating resources efficiently.
Learning Objectives
- Comprehend how prices serve to allocate resources in a market economy.