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What mechanisms allocate resources when the price of a good is not allowed to bring supply and demand into equilibrium?
Wiki User
∙ 12y ago
HAHA...well i am too trying to answer that question in the Mankiew book...good luck! lol
Wiki User
∙ 12y ago
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Which mechanims allocate resources when the price of a good is not allowed to bring suppy and demand into equilibrium?
When the price of a good is not allowed to bring supply and demand into equilibrium, some alternative mechanism must allocate resources. If quantity supplied exceeds quantity demanded, so that there is a surplus of a good as in the case of a binding price floor, sellers may try to appeal to the personal biases of the buyers. If quantity demanded exceeds quantity supplied, so that there is a shortage of a good as in the case of a binding price ceiling, sellers can ration the good according to their personal biases, or make buyers wait in line.
Why is the equilibrium price stable and therefore must be allowed to stay?
It must be less than the equilibrium price
What has allowed developing nations today exploit their resources faster than the US did?
The country’s shared their resources
Why is trade important to a community?
Trade is important to a community because it allowed people to get resources they didn't have in their own area.They would trade their surplus(an extra amount of food).
When the market mechanism is allowed to operate freely prices will determine?
The mix of output to be produced, the resources to be used in the production process, and for whom the output is produced
Which mechanims allocate resources when the price of a good is not allowed to bring suppy and demand into equilibrium?
When the price of a good is not allowed to bring supply and demand into equilibrium, some alternative mechanism must allocate resources. If quantity supplied exceeds quantity demanded, so that there is a surplus of a good as in the case of a binding price floor, sellers may try to appeal to the personal biases of the buyers. If quantity demanded exceeds quantity supplied, so that there is a shortage of a good as in the case of a binding price ceiling, sellers can ration the good according to their personal biases, or make buyers wait in line.
Why is the equilibrium price stable and therefore must be allowed to stay?
It must be less than the equilibrium price
Is it possible that if equilibrium is established it is still equilibrium even if the ring move horizontally away from the force table?
yes. Equilibrium can either be static i.e no movement or dynamic i.e movement is allowed. The main determining factor for equilibrium is that all forces acting at a point or points add up to zero.
What has allowed developing nations today exploit their resources faster than the US did?
The country’s shared their resources
Did Theodore Roosevelts reforms benefit the nation?
yes because Roosevelt reforms allowed protection for national resources
What resources did Britain have that allowed it lead the industrial revolution?
Coal and the steamengine.
Why are human resources allowed to hire people?
That's their job. Human Resource is the department in charge of resources involving humans.
What did the united states possess that allowed it to mechanize its industries?
The United States possessed the same resources that allowed Britain to mechanize its industries.
What is a movie about a society not allowed to show emotions one man a soldier finds a puppy and begans to get attached to it but must hide it?
its called "EQUILIBRIUM"
Why are native Inuit people allowed to hunt narwhals legally?
because resources
What could be the effect on natural resources when cars trucksand tricycles that emit dark smoke 9smoe belchers0 are allowed to travel?
what will be the effect on natural resources when cars,trucks,and tricycles that emit dark smokes are allowed to travel
What kind of computer is not allowed to use the network is put on a dedicated network or is only allowed access to certain network resources?
Quarantined computer
