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Price floors and ceilings stifle the rationing function of prices and distort resource allocation?
Wiki User
∙ 14y ago
Economists have said that "price floorsand price ceilings stifle (prevent) the rationing function of prices and distort resource allocation." Consider what happens after a hurricane, prices are often frozen to pre-hurricane prices through "price gouging laws" to protect the consumer. Is this an example of a price ceiling or a price floor?
This occurs for gasoline as well as for groceries and other products that might be in high demand after the damage of a hurricane. What is the impact in the market place of these limits?
Wiki User
∙ 14y ago
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What do economists mean when they say that price floors and ceilings stifle the rationing function of prices and distort resource allocation?
When economist says price floors means above equilibrium and leads to undermanned surplus. When they say price ceilings it means price below equilibrium which leads to unsupplied shortage.
What ia an allocation of scarce resource using some method other than price?
Rationing
What is difference between resource allocation graph and resource allocation graph algorithm?
The graph is the the actual picture that shows the resource allocation; the algorithm is the method used to produce that graph.
Can resource allocation graph have cycles without a deadlock?
yes resource allocation graph have cycles without a deadlock existing.
Examples of resource allocation in the environment?
Energy
What do economists mean when they say that price floors and ceilings stifle the rationing function of prices and distort resource allocation?
When economist says price floors means above equilibrium and leads to undermanned surplus. When they say price ceilings it means price below equilibrium which leads to unsupplied shortage.
What ia an allocation of scarce resource using some method other than price?
Rationing
What do you mean by Resource allocation in strategic management?
RESOURCE ALLOCATION IN STRATEGIC MANAGEMENT REQUIRES KNOWLEDGEABLE HRM THAT PLACES THE RIGHT HUMAN RESOURCE COMPATIBLE AND CAPABLE OF PERFORMING A SPECIFIC TASK OR FUNCTION EFFECTIVELY TO MEET ORGANIZATIONAL GOALS.
Which of the nine resource allocation strategies is best?
Which of the nine resource allocation strategies is best in your opinion*
What are resource allocation name graphs?
What are the dominate method of resource allocation?Discuss with the help of example?
What is difference between resource allocation graph and resource allocation graph algorithm?
The graph is the the actual picture that shows the resource allocation; the algorithm is the method used to produce that graph.
Difference between resource allocation and resource utilization?
Resource allocation refers to setting aside resources. Resource utilization refers to how resources are used.
Can resource allocation graph have cycles without a deadlock?
yes resource allocation graph have cycles without a deadlock existing.
What is a resource made available in limited amounts?
Rationing :)
Examples of resource allocation in the environment?
Energy
What does resource allocation mean?
'Resource Allocation' is a management terminology phrase for the scheduling of activities and resources needed to complete them whilst taking into consideration both the time needed to complete and effort it will take.
One key responsibility of Multiagency Coordination Systems is to?
Make resource allocation decisions based on incident priorites
