Which of the following is the best example of a possible rationing device?
A)dollar price
B)positive economics
C)normative economics
D)scarcity

Question

Quizplus · Accepted Answer

Dollar price is a common rationing device used in markets to allocate goods and services based on the ability and willingness of consumers to pay for them. This allows for resources to be allocated to those who have the highest demand or value for the product, while also generating revenue for producers. Positive economics and normative economics are not examples of rationing devices, but rather branches of economics that focus on describing and/or prescribing economic behavior. Scarcity is a fundamental economic concept that underlies the need for rationing, but is not a specific device used to allocate goods and services.

Which of the Following Is the Best Example of a Possible