Rationing in economics involves the controlled allocation of limited resources, goods, or services when demand surpasses supply at
Tag: functions of price
functions of price
The price mechanism is fundamental in market economies for efficient resource allocation, serving key functions such as rationing,
CAIE AS Level Economics: The Price System and Microeconomy – Beginner’s Essential Guide
CAIE AS Level Economics: The Price System and Microeconomy – Beginner’s Essential Guide Scarcity, Choice, and the Foundations