Multiple Choice
The rationing function of price
A) occurs when there is a movement of resources into or out of markets as a result of changes in the equilibrium market price.
B) is also known as the guiding function of price.
C) occurs when consumers change their tastes and preferences.
D) occurs only when the market experiences severe shortages.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: List the major non-price determinants of demand.
Q8: Annual demand and supply for the Entronics
Q9: Which of the following indicates that there
Q10: Which of the following would cause a
Q11: Which of the following can result in
Q13: List the major non-price determinants of supply.
Q14: A movement along a demand curve may
Q15: Which of the following refers to a
Q16: Which of the following best applies to
Q17: Which of the following applies most generally