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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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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