In a Market, the Rationing Function of Prices Results in

question 94

Multiple Choice

In a market, the rationing function of prices results in

• A)long queues or waiting lines.
• B)a price ceiling.
• C)equilibrium.
• D)a shortage or surplus.

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Definitions:

Polarity

The characteristic of having two opposed attributes or poles, commonly used in reference to the direction of electrical current or magnetism.

Ohm's Law

A fundamental principle in electrical engineering that states the current through a conductor between two points is directly proportional to the voltage across the two points and inversely proportional to the resistance.

Resistive Circuit

A type of electrical circuit that consists solely of resistors and obeys Ohm's Law, designed for applications where resistance is the primary concern.

Lenz's Law

A principle stating that an induced electrical current will flow in a direction that opposes the change causing it.