In a Free,competitive Market,what Is the Rationing Mechanism

question 122

Multiple Choice

In a free,competitive market,what is the rationing mechanism?

• A)seller bias
• B)buyer bias
• C)government law
• D)price

Understand the concept and benefits of employee leasing.

Identify the demographic challenges and trends affecting organizations.

Recognize strategies to address workforce aging and retirement.

Understand the approaches to lower labor costs and their impacts on organizations.

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Definitions:

Efficient Output

The level of production at which a company or economy can produce the maximum amount of goods and services with the least waste of resources.

Profitable Output

The level of production at which a business or economic activity generates revenue that exceeds its operational costs.

Short Run

A period in economics where at least one input is fixed, limiting the ability to adjust production levels rapidly.

Price

The amount of money required to purchase a good or service, determined by factors such as supply and demand.