Tuesday, December 20, 2011

How are rationing and scarcity related?

rationing is an attempt to allocate scare resources. Economics in general is the study of how society allocates its scarce resources. In America we use the capitalism system, In china they use Socialism, Rationing could be realated to socialism, but in more micro terms it is an allocation system based on fairness, that everyone should recieve an equal amount

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