It Is Necessary to Ration a Good Whenever ___________ Exists

question 3

Multiple Choice

It is necessary to ration a good whenever ___________ exists.

• A)a surplus
• B)excess demand
• C)excess supply
• D)None of these choices are correct.

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Definitions:

Heuristics

Mental shortcuts or rules of thumb that ease the cognitive load of making a decision.

Decision Making

The process of identifying and choosing alternatives based on the values and preferences of the decision-maker.

Shelf-space

The amount of area or space available on shelves in a store allocated to display products.

Cereals Marketers

Professionals involved in promoting and selling grains such as wheat, maize, oats, and barley.