The correct answer is: "
considered to be doing business on the black market".
Rationing takes place when a certain market (for example, appartment market) is not in equilibrium and there is an excess of demand hence, the amount demanded of such product is larger than the number of units that are supplied.
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>
D. Yes. China has one of the World's highest gross domestic products.
Their GDP is expected to surpass the United States in 2025. It is only a matter of time as business in China had taken a boost during Deng's reforms and the removal of Mao's economic policies.
The correct answer is Austria-Hungary
Nationalism started rising after numerous years of wars during the 19th century. Austria-Hungary believed that it had the right to be the great empire that it used to be and that it partially was at the moment. That's why things like world war 1 happened since countries wanted to establish themselves as great.
Answer:
Unions simply do not provide the economic benefits that their supporters claim they provide. They are labor cartels, intentionally reducing the number of jobs to drive up wages for their members. In competitive markets, unions cannot cartelize labor and raise wages. Companies with higher labor costs go out of business.
