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.

---

Definitions:

Pricing Objectives

The goals that a company aims to achieve through its pricing strategies, such as maximizing profit, increasing market share, or targeting a specific market segment.

Marketing Plans

Outlines that strategize the approach for promoting and selling products or services.

Profit Equation

A calculation that subtracts total expenses from total revenue, determining the financial gain of a business operation.

Total Revenue

The total income generated from the sale of goods or services by a business before any expenses are subtracted.