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List three problems of allocating goods and services using nonprice-related methods?
-problem of fairness -high administrative cost -diminishing incentive
Which form of nonprice competition is a local restaurant preparing a new recipe for its lunch menu?
physical characteristics
In a free competitive market what is the rationing mechanism?
Price is the rationing mechanism. Whoever can afford it, will by it.
What is our main rationing device in the american economy?
The United States economy does not have a rationing device
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.
What are the 5 non price rationing methods?
1. Queuing 2. Price coupons 3. Black Market
List three problems of allocating goods and services using nonprice-related methods?
-problem of fairness -high administrative cost -diminishing incentive
What are 3 problems of allocating goods and services using nonprice-related methods?
The three problems of allocating goods and services using the non-price related methods is that it may lead to the exploitation of the customers, price fixing and may lead to huge loses.
Rationing?
the act of rationing
What is advertising a form of?
pure competiton.price competition.nonprice competition.ineffective competition.Answer is: Nonprice competition
Which food was not rationed during World War 2 but was rationed after it?
Rationing continued on many items until 1954.•1948- The end of rationing begins. It is another 5 years before rationing of all products is stopped.•25 July 1948 - end of flour rationing•15 March 1949 - end of clothes rationing•19 May 1950 - rationing ended for canned and dried fruit, chocolate biscuits, treacle, syrup, jellies and mincemeat.•September 1950 - rationing ended for soap•3 October 1952 - Tea rationing ended•February 1953 - Sweet and sugar rationing ends•4 July 1954 - Food rationing ends
Where did rationing happen?
Rationing happpend in Britain
Where can you find information about World War 2 rationing?
To find information on rationing you can go to www.worldwar2.org.uk/rationing/89687/homework/school.htm To find information on rationing you can go to www.worldwar2.org.uk/rationing/89687/homework/school.htm To find information on rationing you can go to www.worldwar2.org.uk/rationing/89687/homework/school.htm
What is the price of food in 1940 England?
Food rationing kept prices down. In fact, one of the main purposes of rationing by coupons was to prevent, or at least drastically limit, rationing by price. (Without rationing by coupons, shortages would have driven food prices sky high, and no government wants riots during a difficult war).
Did rationing affect children?
Rationing affected everyone.
What are some example sentences using the word rationing?
Rationing was done during World War II.We are rationing the chocolate during our diet.
What did people rely on for most of their food before the agricultural revolution?
People survived off of food in the past by rationing out what they harvested and produced. The older production and harvesting methods yielded far less food compared to methods today.
