In Most Societies, Dollar Price Acts as the Main Rationing

question 3

Multiple Choice

In most societies, dollar price acts as the main rationing device. If dollar price weren't the main rationing device, would there still be a need for some rationing device to take its place?

• A)No, because with dollar price there would be no scarcity, although shortages would still exist.
• B)Yes, because there is a need for a rationing device as long as scarcity exists.
• C)Yes, because there is a need for a rationing device as long as the world's population is so large.
• D)No, because dollar price creates scarcity and without money price scarcity wouldn't exist.

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Definitions:

Product Groupings

The categorization of products based on similarities in their characteristics, function, or target market.

Sales Goal

A specific, set target for the amount of sales that a company or individual aims to achieve within a certain time frame.

Volt

A unit of electric potential difference or electromotive force in the International System of Units (SI).

Markdowns

A reduction from the original or previous selling price of goods or services, often to clear inventory or boost sales.