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it uses criteria other than price and is the basis of central planning
Kaylin Heller
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How is rationing different from a price based market system?
it uses criteria other than price and is the basis of central planning
Why Explain in your own words how the terms rationing and price are related?
Rationing is a system to allocate goods and services without the use of prices. Rationing is when people receive a ration coupon that entitles them to a certain amount of a product.
A system of allocating scarce goods and services using some criteria other than price?
rationing
What are the main effects of price ceiling and rationing?
The following are the main effects of price ceiling and rationing: 1. Beneficial for Poor Consumers: A well managed rationing system enables the poor section of the society to get the commodities which are in short supply. 2. Transfer of Resources: The price ceiling and rationing enable the government to transfer resources from the production of less important uses to more important uses. 3. Black Marketing: The worst effect of rationing is to encourage black marketing.
In a free competitive market what is the rationing mechanism?
Price is the rationing mechanism. Whoever can afford it, will by it.
How is rationing different from a price based market system?
it uses criteria other than price and is the basis of central planning
How is rationing different from price-based market system?
it uses criteria other than price and is the basis of central planning
How is rationing different from a price-based market system?
it uses criteria other than price and is the basis of central planning
How is rationing different from a priced-based market system?
it uses criteria other than price and is the basis of central planning
Why Explain in your own words how the terms rationing and price are related?
Rationing is a system to allocate goods and services without the use of prices. Rationing is when people receive a ration coupon that entitles them to a certain amount of a product.
A system of allocating scarce goods and services using some criteria other than price?
rationing
How do price act as a rationing device?
prices can not act as rationing device
What are the main effects of price ceiling and rationing?
The following are the main effects of price ceiling and rationing: 1. Beneficial for Poor Consumers: A well managed rationing system enables the poor section of the society to get the commodities which are in short supply. 2. Transfer of Resources: The price ceiling and rationing enable the government to transfer resources from the production of less important uses to more important uses. 3. Black Marketing: The worst effect of rationing is to encourage black marketing.
In a free competitive market what is the rationing mechanism?
Price is the rationing mechanism. Whoever can afford it, will by it.
What is the price system based on?
Supply and Demand
What effect did rations have on meat prices?
In the UK, anyway, most food prices were fixed while rationing was in force. One of the main purposes of rationing by coupons was to avoid rationing by price. :)
Which of these is most likely to lead directly to a black market a supply shock b price floor c rationing d equilibrium?
Rationing
