In the Short Run, It Is Necessary to Nonprice Ration

question 33

Multiple Choice

In the short run, it is necessary to nonprice ration a good whenever ________ exists.

• A) excess demand
• B) excess supply
• C) a surplus
• D) market equilibrium

---

Definitions:

Formal

Pertaining to actions, events, or structures that are official, structured, and subject to rules or norms, often in contrast to informal counterparts.

Informal Groups

Social groups that form naturally within an organization, based on personal relationships and common interests, rather than being formally structured.

Organizational Goals

The strategic objectives that an organization aims to achieve, which guide its operations and decision-making processes.

Skunkworks

A term originating from Lockheed Martin that describes a project developed by a small, loosely structured group of people who research and develop a project primarily for the sake of radical innovation.