The Rationing Function of Prices Means That

question 315

Multiple Choice

The rationing function of prices means that

• A) government is responsible for setting the prices of basic foods.
• B) all goods and services are produced by large firms.
• C) businesses determine what goods consumers should purchase.
• D) buyers and sellers synchronize their decisions through the price system.

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Definitions:

Bishop Maximianus

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An architectural masterpiece in Istanbul, Turkey, originally built as a Christian cathedral, later converted into a mosque, and now a museum.

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