Why Does an Economy Need a Rationing Mechanism

question 231

Multiple Choice

Why does an economy need a rationing mechanism?

• A) because of scarcity
• B) because it preserves the power of the wealthy
• C) because it eliminates poverty
• D) All of the above are correct.

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Definitions:

Componential Intelligence

Part of Sternberg's Triarchic Theory of Intelligence, focusing on analytical skills such as problem-solving, logical reasoning, and the ability to analyze.

Practical Intelligence

The ability to solve everyday problems by utilizing knowledge gained from experience.

Intellectual Disability

A disability characterized by significant limitations in both intellectual functioning and in adaptive behavior, which covers a range of everyday social and practical skills.

Mental Retardation

An outdated and insensitive term formally used to describe people with significantly below-average intellectual functioning and adaptive behaviors, now more appropriately called intellectual disability.