In Free and Competitive Markets,shortages Are Eliminated by

question 93

Multiple Choice

In free and competitive markets,shortages are eliminated by

• A)government price controls.
• B)rationing.
• C)black markets.
• D)price increases.
• E)price decreases.

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Definitions:

Communal Settlements

Living arrangements where individuals share resources and responsibilities, often based on common values or social ideals.

Physiological Needs

Basic physical requirements essential for survival, such as food, water, shelter, and sleep, as identified in Maslow's hierarchy of needs.

Higher Order Needs

Needs that go beyond the basic physiological requirements to include psychological and self-fulfillment needs, often associated with Maslow's hierarchy of needs.

Self-Direction

The ability or process of guiding oneself to accomplish objectives and goals based on personal judgment and motivation.