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Llana [10]
2 years ago
11

Refers to being truthful and stating the facts as they are. Ε Ν Η Τ Υ Ο S

History
1 answer:
g100num [7]2 years ago
8 0

Answer:

Honesty

Explanation:

Honesty is the act or quality of being honest and sincere with one's actions and words (statement). Thus, it's a quality that requires an individual to show sincerity, truthfulness and stating the facts as they are without mincing words and regardless of whose ox is gored.

This ultimately implies that, honesty refers to being truthful and stating the facts as they are in all circumstances.

For example, John lacks honesty because he's always fond of being economical with the truth and peddling fake news.

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If price variations are not allowed under a certian economic system, the price of the product cannot rise and the equilibruim in this market cannot be restored. Therefore, the available units of the product are allocated among the consumers by using a rationing mechanism that establishes certain rules to state which of those consumers would receive the product first, who go next and who cannot have it at all.

If some of the consumers violates the established rules and <u>offers a higher price (which is not allowed), it evidences the emergence of black market practices that circumvent the rationing mechanism. </u>

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