If a Shortage Exists for a Good in a Free-Market

question 142

Multiple Choice

If a shortage exists for a good in a free-market economy,the:

• A)Price of the good will rise.
• B)Price of the good will fall.
• C)Government will order suppliers to increase the production of that good.
• D)Government must establish a rationing system to make sure that the good is fairly distributed.

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Definitions:

Utilitarianism

A moral theory suggesting that the best action is the one that maximizes utility, generally defined as that which produces the greatest well-being of the greatest number of people.

Respiratory Epidemic

A widespread occurrence of an infectious disease that affects the respiratory system within a community or region in a given period.

Health Care Workers

Professionals engaged in actions aimed at improving a person's health, including doctors, nurses, therapists, and other medical staff.

Feminist Ethics

Ethical approach that focuses on the nature of relationships to guide participants in making difficult decisions, especially relationships in which power is unequal or in which a point of view has become ignored or invisible.