Examlex
Which of the following statements concerning Mecca is NOT True?
Allocation of Resources
The process of distributing available resources among various uses in an economy to meet the needs and desires of individuals and entities.
Favored Customers
Clients who receive special benefits from sellers due to their status, volume of purchase, or long-standing relationship.
Excess Demand
Occurs when the quantity demanded of a good or service exceeds the quantity supplied at a given price, leading to shortages.
Nonprice Rationing
Distribution or allocation of goods and services based on criteria other than price, often used when there is a shortage.
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