Rationing of resources, goods, and services
A) is not required under the price system.
B) is required because of scarcity.
C) must be done by the government.
D) happens only when the price is zero.
B
You might also like to view...
If the four-firm concentration ratio in an industry increases, the industry
a. must have become more competitive. b. must have become a monopoly. c. must have become less competitive, although not necessarily a monopoly. d. may or may not have become less competitive.
A market system (market economy) depends on the market to
a. find the most efficient way of using resources. b. determine how large the budget deficit should be. c. decide how much government regulation there should be. d. provide minimum incomes for everyone. e. All of the above are correct.
Figure 8-2
?
In Figure 8-2, which of the following moves can be explained by a decrease in the prices of stock on the NASDAQ?
A. A to B B. A to C C. A to D D. A to E
The selling of a good or service abroad at a price below production costs is
A. price discrimination. B. price differentiation. C. dumping. D. marginal cost selling.