0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why would a nation ration goods and services in time of war?
Goods may be rationed during wartime for a couple of reasons. When commodities become scarce (which can happen during wartime) and demand remains the same prices will rise, maybe a lot. Rationing reduces the demand and thus keeps prices from going out of reach for ordinary income people. Some commodities such as tires, gasoline, etc. are needed for the war effort, rationing makes them available for this purpose. I don't remember services being rationed but if they were it would be for the same reasons.
Why did inflation occur in both the North and the South during the Civil War?
The limited supply of goods caused prices to rise.
Who is the GNP's largest purchaser of goods and services during a time of war?
The U.S. government(Kaylop)
Why did prices increase during world war 1?
Well, there were limited supplies to be sold and many people were willing to pay more for their daily goods so shops took advantage of that and increased prices.
Why did the prices of manufacturing goods in the Southren States rise sharply during the civil war?
Because the Union had blockaded the Southern ports, and very few imports were able to get through.
What happened during the Union Blockade of Georgia's coast?
Prices of goods in the South skyrocketed and some people became Millionaires due to selling goods in inflated prices.
What happened to the prices of goods during the Japanese Occupation?
It increased as there were shortage of food and not enough money.
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
An overall rise in the prices of goods and servies?
Inflation is an overall rise in the prices of goods and services. When the usual price level rises, each unit of currency buys fewer services and goods.
What does a government do in a socialist country?
set prices for goods and services
What does the government do in the socialist country?
set prices for goods and services
Who decides on the prices of goods and services in china?
Ryan radebe
What is the economic term for prices of goods and services set by government?
A government only sets the prices for goods and services as a matter of course in Communist or strongly socialist countries. This has come to pass in more economically conservative countries only during periods of high inflation and serious economic downturn.
What are medieval blacksmith prices?
There may have been monetary costs, but just as often as not tradesman used barter as a means to exchange services for services, goods for services or goods for goods. In other words, they traded.
What effect can consumers behavior have on you?
You will pay higher prices on goods and services.
The amount of goods and services that consumers are willing to buy at various prices?
the cost
Is when a central authority controls prices and production of goods and services?
A command economy
