The Rationing Function of Prices Refers to the

question 274

Multiple Choice

The rationing function of prices refers to the

• A) tendency of supply and demand to shift in opposite directions.
• B) fact that ration coupons are needed to alleviate wartime shortages of goods.
• C) capacity of a competitive market to equalize quantity demanded and quantity supplied.
• D) ability of the market system to generate an equitable distribution of income.

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Definitions:

Types Of Products

Different categories or classes of goods and services offered by businesses to consumers or other businesses.

Rail Transportation

The conveyance of passengers and goods by way of wheeled vehicles running on rail tracks, distinguished from other means of transport such as by automobile, bus, or airplane.

Water Transportation

The movement of people or goods via rivers, lakes, seas, and oceans, utilizing different types of vessels for commerce, recreation, or military purposes.

Very High Capacity

Describes systems, facilities, or processes that can handle a significantly large volume of transactions, data, or throughput.