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Rationing
Rationing is the controlled distribution (marketing), distribution of scarcity, scarce resources, goods, services, or an artificial restriction of demand. Rationing controls the size of the ration, which is one's allowed portion of the resources being distributed on a particular day or at a particular time. There are many forms of rationing, although rationing by price is most prevalent. Rationing is often done to keep price below the market clearing, market-clearing price determined by the process of supply and demand in an free market, unfettered market. Thus, rationing can be complementary to incomes policies, price controls. An example of rationing in the face of rising prices took place in the various countries where there was rationing of gasoline during the 1973 energy crisis. A reason for setting the price lower than would clear the market may be that there is a high input , which would drive the market price very high. High prices, especially in the case of necessitie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ration Stamp
Rationing is the controlled distribution of scarce resources, goods, services, or an artificial restriction of demand. Rationing controls the size of the ration, which is one's allowed portion of the resources being distributed on a particular day or at a particular time. There are many forms of rationing, although rationing by price is most prevalent. Rationing is often done to keep price below the market-clearing price determined by the process of supply and demand in an unfettered market. Thus, rationing can be complementary to price controls. An example of rationing in the face of rising prices took place in the various countries where there was rationing of gasoline during the 1973 energy crisis. A reason for setting the price lower than would clear the market may be that there is a high input , which would drive the market price very high. High prices, especially in the case of necessities, are undesirable with regard to those who cannot afford them. However, econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Come, First Served
Queueing theory is the mathematical study of waiting lines, or queues. A queueing model is constructed so that queue lengths and waiting time can be predicted. Queueing theory is generally considered a branch of operations research because the results are often used when making business decisions about the resources needed to provide a service. Queueing theory has its origins in research by Agner Krarup Erlang, who created models to describe the system of incoming calls at the Copenhagen Telephone Exchange Company. These ideas were seminal to the field of teletraffic engineering and have since seen applications in telecommunications, traffic engineering, computing, project management, and particularly industrial engineering, where they are applied in the design of factories, shops, offices, and hospitals. Spelling The spelling "queueing" over "queuing" is typically encountered in the academic research field. In fact, one of the flagship journals of the field is '' Queuein ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply And Demand
In microeconomics, supply and demand is an economic model of price determination in a Market (economics), market. It postulates that, Ceteris_paribus#Applications, holding all else equal, the unit price for a particular Good (economics), good or other traded item in a perfect competition, perfectly competitive market, will vary until it settles at the market clearing, market-clearing price, where the quantity demanded equals the quantity supplied such that an economic equilibrium is achieved for price and quantity transacted. The concept of supply and demand forms the theoretical basis of modern economics. In situations where a firm has market power, its decision on how much output to bring to market influences the market price, in violation of perfect competition. There, a more complicated model should be used; for example, an oligopoly or product differentiation, differentiated-product model. Likewise, where a buyer has market power, models such as monopsony will be more a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1973 Energy Crisis
In October 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it was implementing a total oil embargo against countries that had supported Israel at any point during the 1973 Yom Kippur War, which began after Egypt and Syria launched a large-scale surprise attack in an ultimately unsuccessful attempt to recover the territories that they had lost to Israel during the 1967 Six-Day War. In an effort that was led by Faisal of Saudi Arabia, the initial countries that OAPEC targeted were Canada, Japan, the Netherlands, the United Kingdom, and the United States. This list was later expanded to include Portugal, Rhodesia, and South Africa. In March 1974, OAPEC lifted the embargo, but the price of oil had risen by nearly 300%: from US to nearly US globally. Prices in the United States were significantly higher than the global average. After it was implemented, the embargo caused an oil crisis, or "shock", with many short- and long-term effects on the gl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Queueing
Queue areas are places in which people queue (first-come, first-served) for goods or services. Such a group of people is known as a ''queue'' (British usage) or ''line'' ( American usage), and the people are said to be waiting or standing ''in a queue'' or ''in line'', respectively. Occasionally, both the British and American terms are combined to form the term "queue line". Examples include checking out groceries or other goods that have been collected in a self service shop, in a shop without self-service, at an ATM, at a ticket desk, a city bus, or in a taxi stand. Queueing is a phenomenon in a number of fields, and has been extensively analysed in the study of queueing theory. In economics, queueing is seen as one way to ration scarce goods and services. Types Physical History The first written description of people standing in line is found in an 1837 book, '' The French Revolution: A History'' by Thomas Carlyle. Carlyle described what he thought was a strange sig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Romanian Ration-card For Bread, 1989
Romanian may refer to: *anything of, from, or related to the country and nation of Romania **Romanians, an ethnic group **Romanian language, a Romance language ***Romanian dialects, variants of the Romanian language **Romanian cuisine, traditional foods **Romanian folklore *'' The Romanian: Story of an Obsession'', a 2004 novel by Bruce Benderson *''Românul ''Românul'' (, meaning "The Romanian"; originally spelled ''Romanulu'' or ''Românulŭ'', also known as ''Romînul'', ''Concordia'', ''Libertatea'' and ''Consciinti'a Nationala''), was a political and literary newspaper published in Bucharest, Ro ...'' (), a newspaper published in Bucharest, Romania, 1857–1905 See also * * {{disambiguation Language and nationality disambiguation pages ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Siege
A siege () . is a military blockade of a city, or fortress, with the intent of conquering by attrition, or by well-prepared assault. Siege warfare (also called siegecrafts or poliorcetics) is a form of constant, low-intensity conflict characterized by one party holding a strong, static, defensive position. Consequently, an opportunity for negotiation between combatants is common, as proximity and fluctuating advantage can encourage diplomacy. A siege occurs when an attacker encounters a city or fortress that cannot be easily taken by a quick assault, and which refuses to surrender. Sieges involve surrounding the target to block provision of supplies and reinforcement or escape of troops (a tactic known as "investment"). This is typically coupled with attempts to reduce the fortifications by means of siege engines, artillery bombardment, mining (also known as sapping), or the use of deception or treachery to bypass defenses. Failing a military outcome, sieges can often be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
