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Brylee Pritchett
on Dec 12, 2024

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Every economy must ration goods in some way because of

A) overpopulation.
B) poorly-performing markets.
C) the income gap between rich and poor.
D) scarcity.

Ration

To distribute or allocate a scarce resource or supply in a controlled manner among various users.

Overpopulation

A condition where an environment's population exceeds the capacity it has to support life healthily and comfortably.

Income Gap

The disparity in income and wealth distribution between different groups in society, often measured between the rich and the poor.

  • Understand the mechanisms of rationing in an economy and the role of price as a rationing criterion.
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Hadassah ThompsonDec 18, 2024
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