The Price System Rations Goods Among Consumers in Such a Way

question 116

Multiple Choice

The price system rations goods among consumers in such a way that

• A)all are treated equally.
• B)all needs are satisfied.
• C)the rich are favored.
• D)important needs are satisfied first.

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Definitions:

Personal Autonomy

The capacity to make an informed, un-coerced decision; typically refers to one's ability to govern oneself or make personal decisions without external coercion.

Independent

Being free from outside control or not depending on another's authority for livelihood or subsistence.

Ageism

A prejudice whereby people are categorized and judged solely on the basis of their chronological age.

Chronological Age

The amount of time that has passed from an individual's birth to a specific date, measured in years.