At the Beginning of World War II, a Rationing System

question 212

Multiple Choice

At the beginning of World War II, a rationing system was established in the United States. Ration stamps or cards were issued for a variety of commodities such as canned milk and gasoline. Canned milk was only available to babies and small children. In this example, canned milk was allocated through:

• A) Personal characteristics
• B) Market price
• C) Majority rule
• D) First-come, first-served

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Definitions:

Net Worth

The total value of all assets owned by a person or entity minus any liabilities owed.

Assets

Resources owned by an individual or business that have economic value or are expected to provide future benefit.

Liabilities

Financial obligations or debts owed by a company or individual.

Benefits-Received Principle

The concept that individuals should be taxed in proportion to the benefits they receive from government services.