Difference between revisions of "Rationing"
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| − | Rationing is limiting the purchase or use of a good. Typically this term refers to rationing by the government when its policies result in a supply less than demand. | + | '''Rationing''' is limiting the purchase or use of a good. Typically this term refers to rationing by the [[government]] when its policies result in a [[supply]] less than [[demand]]. |
The most common form of rationing results from price controls, whereby the government limits the price that can be charged for a good. This reduces supply and not everyone wanting to purchase the good can do so. | The most common form of rationing results from price controls, whereby the government limits the price that can be charged for a good. This reduces supply and not everyone wanting to purchase the good can do so. | ||
| − | Rationing during wartime is common in many countries. Rationing is also common in communist countries. | + | Rationing during wartime is common in many countries. Rationing is also common in [[communist]] countries. |
[[category:economics]] | [[category:economics]] | ||
Revision as of 18:42, October 1, 2007
Rationing is limiting the purchase or use of a good. Typically this term refers to rationing by the government when its policies result in a supply less than demand.
The most common form of rationing results from price controls, whereby the government limits the price that can be charged for a good. This reduces supply and not everyone wanting to purchase the good can do so.
Rationing during wartime is common in many countries. Rationing is also common in communist countries.