What is meant by rationing?
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allow each Pearson to have only a fixed amount of commodity
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Explanation:
In common parlance ' rationing' refers to allocation in fixed quantities or the provision of a fixed allowance, especially of food. As Klein, Day and Redmayne note, the word is a cognate of ' rationality', and thereby connotes a distribution based upon the exercise of reason, which is carried out fairly and even-handedly.
This is the understanding of the term which is emphasized within economics, the fundamental concern of which might be described as 'the study of the allocation of scarce resources among the competing ends.
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