When Free Markets Ration Goods with Prices, It Is Both

question 224

True/False

When free markets ration goods with prices, it is both efficient and impersonal.

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Definitions:

Petty Cash Fund

A small amount of cash kept on hand for minor, everyday business expenses.

Replenishment

The process of restocking products or materials to maintain inventory levels and meet demand.

Internal Control Principles

Guidelines that govern the design and implementation of systems and procedures to ensure asset protection, data accuracy, and operational efficiency.

Possible Errors

Mistakes or inaccuracies that might occur in the recording or reporting of financial transactions.