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17 July, 18:04

In a free competitive market what is the rationing mechanism

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  1. 17 July, 19:38
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    A competitive market has many producers competing with one another to satisfy the wants and needs of many consumers. In a free competitive market, the prices of goods and services are set by the consumers and supply and demand aren't regulated by the government. Knowing this, in a free competitive market the rationing mechanism is based on price.
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