In Free and Competitive Markets, Shortages Are Eliminated by

question 18

Multiple Choice

In free and competitive markets, shortages are eliminated by

• A) black markets.
• B) rationing.
• C) price decreases.
• D) government price controls.
• E) price increases.

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Definitions:

Liable

Liable means being legally responsible for something, typically involving financial compensation or another form of restitution.

Reliance

The act of relying or depending on something, often related to a belief or action based on certain expectations or promises.

Damages

Damages are a monetary sum awarded to a party in a lawsuit as compensation for injury or loss suffered due to the action or inaction of another.

Battery

A tortious act involving unlawful and nonconsensual contact with another person, resulting in harm or offense.