Rationing of Resources, Goods, and Services

question 255

Multiple Choice

Rationing of resources, goods, and services

• A) is not required under the price system.
• B) is required because of scarcity.
• C) must be done by the government.
• D) happens only when the price is zero.

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Definitions:

Consequences

Outcomes or effects that result from an action or condition, impacting future events and decisions.

Thought

Refers to the mental process of reasoning, contemplating, or considering information, which results in forming ideas, opinions, or judgments.

Normalization

The process of making something conform to a standard or norm, often involves the adjustment of data or behavior to fit a perceived normal state.

Foucault

Michel Foucault was a French philosopher and social theorist known for his work on power relations, social institutions, and the history of sexuality.