1. Because people want more of scarce goods than Nature has made freely available, a rationing mechanism...
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1. Because people want more of scarce goods than Nature has made freely available, a rationing mechanism is necessary. Competition is the natural outgrowth of the necessity to ration scarce goods. A change in the rationing mechanism utilized will alter the form of competition, but it will not eliminate competitive tactics.
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Related Book For
Economics Private And Public Choice
ISBN: 9780123110404
2nd Edition
Authors: James D Gwartney; Richard Stroup; A H Studenmund
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