ECONOMICS (CBSE/UGC NET)

ECONOMICS

OPPORTUNITY COST

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Identify an example of the following term:rationing
A
During World War II, only a certain amount sugar & gasoline were allowed for purchase
B
The citizens of the United States giving up certain goods, such as sugar, in exchange for freedom provided by the war
C
Resources shifted from the citizens to the World War II effort
D
Using margarine instead of butter
Explanation: 

Detailed explanation-1: -Gasoline was rationed starting in May of that year, and by the summer even bicycle purchases were restricted. The government began rationing certain foods in May 1942, starting with sugar. Coffee was added to the list that November, followed by meats, fats, canned fish, cheese, and canned milk the following March.

Detailed explanation-2: -Excerpt. Sugar was in shorter supply than most other foods in the United States throughout nearly all of World War II. It was the first food to be rationed after the outbreak of war and the only one not removed from ration control before 1946.

Detailed explanation-3: -Even though thousands of items became scarce during the war, only those most critical to the war effort were rationed. Key goods such as sugar, tires, gasoline, meat, coffee, butter, canned goods and shoes came under rationing regulations. Some important items escaped rationing, including fresh fruit and vegetables.

Detailed explanation-4: -Supplies such as gasoline, butter, sugar and canned milk were rationed because they needed to be diverted to the war effort. War also disrupted trade, limiting the availability of some goods.

There is 1 question to complete.