Author Question: In a world of scarcity, there has to be some way to ration the available resources. According to ... (Read 145 times)

bcretired · **on:** Jun 29, 2018

In a world of scarcity, there has to be some way to ration the available resources. According to economists, the most efficient use of available resources occurs when rationing occurs via

A) queuing.
B) lotteries.
C) political power.
D) the price system.

Question 2

It is correct to state that a society which is on its production possibilities curve is

A) underutilizing is resources.
B) technologically inefficient.
C) consuming too much output.
D) fully utilizing its productive resources.