What do economists mean when they speak of price as a rationing mechanism?
A) That all goods produced will be sold.
B) Consumers get the products they want at prices they can afford.
C) That shortages of goods in the market price will disappear as a result of price rising which results in the quantity demanded increasing and the quantity supplied decreasing.
D) That shortages of goods in the market price will disappear as a result of price rising which results in the quantity demanded decreasing and the quantity supplied increasing.
Correct Answer:
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Q35: All of following except one are possible
Q36: What is meant by an illegal market?
A)An
Q37: Which of the following statements is true
Q38: What is meant by dumping?
A)The destruction of
Q39: What is meant by producers' preference?
A)The effect
Q41: Q42: The data shows the demand and supply Q43: The data shows the demand and supply Q44: Q45: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
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