The rationing function of prices means that
A) government is responsible for setting the prices of basic foods.
B) all goods and services are produced by large firms.
C) businesses determine what goods consumers should purchase.
D) buyers and sellers synchronize their decisions through the price system.
D
Economics
You might also like to view...
With increasing returns (falling average costs), as the remaining firms expand, their demand curves become _______________ due to foreign competition, and firms must _______________.
a. steeper; raise prices b. flatter; lower prices c. flatter; raise prices d. steeper; lower prices
Economics
Market income is defined as wages, interest, rent, and profit earned in factor markets plus cash payments to households by the government
Indicate whether the statement is true or false
Economics