Examlex
In the accompanying figure, item 1 points to a(n) ____.
Rationing Mechanism
A system or method used to allocate scarce goods, services, or resources among people with competing demands.
Market Economies
Economic systems where decisions on production, investment, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
Price
The fund amount deemed necessary, expected, or allocated for a service or good.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price point, at a given time.
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