The low availability of houses on rent cause potential tenants to incur the cost of waiting.The first-come first-serve basis used by owners while letting out houses under a rent control is a form of:

Question

Quizplus · Accepted Answer

The first-come first-serve basis used by owners while letting out houses under rent control is a form of nonprice rationing as it allocates the limited supply of houses based on factors other than price. In this case, the factor is the order in which potential tenants approach the landlord or property manager for rental accommodations. This method is often used when there is excess demand for a product or service, and price rationing is not an option due to government intervention or market conditions. Black marketing and predatory pricing involve illegal or unethical practices aimed at manipulating prices or markets, and they do not apply to this situation.

The Low Availability of Houses on Rent Cause Potential Tenants