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A system of allocating scarce goods and services using criteria other than price is .?
A system of allocating scarce goods and services using criteria other than price is known as a non-price rationing mechanism. Non-price rationing mechanisms include methods such as first-come, first-served, lottery, merit-based allocation, and need-based allocation. These mechanisms are often used in situations where price-based allocation may not be fair or equitable, such as in healthcare, education, or disaster relief efforts.
What is a system of allocating scarce goods and services using criteria other than price called?
A barter system, where people trade their goods and services for other goods or services as opposed to trading goods and services for money.
Why do command economies believe that an authoritarian system is more efficient than the price system for allocating scarce resources?
Command economies believe that an authoritarian system is more efficient than the price system for allocating scarce resources because it allows for centralized decision-making and the direct control of resources. This can lead to quicker implementation of policies and the ability to prioritize national goals over individual interests, thereby avoiding market inefficiencies and fluctuations. Additionally, it aims to ensure equitable distribution of resources, which proponents argue can reduce inequalities inherent in market-driven economies.
Is a structure for allocating scare resources?
An Economic system
What is the role of the price system?
In economics, a price system determines the allocation of scarce resources and induces supply to respond to change in demand. It also rations out scarce product, indicates change in want, is in use in the production of goods and services, and determines the reward factors of production.
A system of allocating scarce goods and services using criteria other than price is .?
A system of allocating scarce goods and services using criteria other than price is known as a non-price rationing mechanism. Non-price rationing mechanisms include methods such as first-come, first-served, lottery, merit-based allocation, and need-based allocation. These mechanisms are often used in situations where price-based allocation may not be fair or equitable, such as in healthcare, education, or disaster relief efforts.
What is a system of allocating scarce goods and services using criteria other than price called?
A barter system, where people trade their goods and services for other goods or services as opposed to trading goods and services for money.
Why do some people believe that the market system is the best mechanism for allocating scarce resources?
Some people believe that the market system is the best mechanism for allocating scarce resources because it allows for competition, which can drive efficiency and innovation. They argue that market forces of supply and demand provide a self-regulating mechanism that can efficiently allocate resources based on consumer preferences and willingness to pay. Additionally, proponents of the market system often view it as promoting individual choice and freedom.
Why do command economies believe that an authoritarian system is more efficient than the price system for allocating scarce resources?
Command economies believe that an authoritarian system is more efficient than the price system for allocating scarce resources because it allows for centralized decision-making and the direct control of resources. This can lead to quicker implementation of policies and the ability to prioritize national goals over individual interests, thereby avoiding market inefficiencies and fluctuations. Additionally, it aims to ensure equitable distribution of resources, which proponents argue can reduce inequalities inherent in market-driven economies.
Is a structure for allocating scare resources?
An Economic system
What is the role of the price system?
In economics, a price system determines the allocation of scarce resources and induces supply to respond to change in demand. It also rations out scarce product, indicates change in want, is in use in the production of goods and services, and determines the reward factors of production.
What system replaced the headright system as a way of allocating land?
the land lottery
Methods of allocating disk space?
what is the difference between a file system and a database system?
What are the criteria to measure the effectiveness of operating system in relation to computer system?
what are the criteria to measure the infectiveness of computer system
What term denotes a nation's basis for allocating its resources among its citizens?
An economic system
What term denotes a nations basis for allocating its resources among its citizens?
An economic system
What are four advantages of using price as an allocating mechanism?
The advantages of using price as an allocating mechanism include that it is a simple system and it is already known. Two other advantages are that it is easy to understand and it is universal.
