If Goods Are Not Rationed According to Price,if Follows That

question 4

Multiple Choice

If goods are not rationed according to price,if follows that

• A) they won't get rationed at all.
• B) some non-price rationing device will be used to ration the goods.
• C) first-come-first-served will necessarily be the rationing device used in the market.
• D) there will be surpluses in the market.
• E) none of the above

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Definitions:

Work-in-process Inventory

Items that are in the process of being produced but are not yet finished goods in manufacturing.

Maintenance

The process of preserving the condition of tools, machines, buildings, and other physical assets through routine upkeep and repairs.

Repair

The process of fixing or restoring something that is broken or damaged.

Operations

The day-to-day activities involved in running a business, including production, logistics, and distribution.