How Would Rationing by Long Lines Best Be Described

question 230

Multiple Choice

How would rationing by long lines best be described

• A)inefficient, because it wastes buyers' time
• B)efficient, because those who are willing to wait the longest get the goods
• C)the only way scarce goods can be rationed
• D)only necessary if price ceilings are not binding

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Definitions:

Resource Dependence

This concept outlines how external resources affect the behavior and strategies of organizations, underlining the dependency on external actors for resources needed to operate.

Open Systems

Organizations or entities that interact with their environment, exchanging resources, information, and influences.

Resource Dependence

Refers to a situation where organizations depend on external resources to operate, affecting their behavior and strategies in the marketplace.

Environmental Uncertainty

The degree of unpredictability in an organization's external environment that affects its decision-making and performance strategies.