Multiple choice:11. The rationing function of the price mechanism can be explained in which of the following ways?Prices reflect the wants and needs of consumersAs resources are increasingly used, prices is driven up which slows down the rate of usageGovernments limiting the supply of scarce resources during a time of warWhen prices are falling suppliers are likely to supply more goods Answer the followingWho makes all this stuff? (economics)How is it made? (economics)

During a scarcity, a rationing mechanism is a technique for deciding who gets how many products.…

Answered: 11. The rationing function of the price…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Multiple choice:

11. The rationing function of the price mechanism can be explained in which of the following ways?

Prices reflect the wants and needs of consumers
As resources are increasingly used, prices is driven up which slows down the rate of usage
Governments limiting the supply of scarce resources during a time of war
- When prices are falling suppliers are likely to supply more goods
Answer the following
Who makes all this stuff? (economics)

How is it made? (economics)

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