ECONOMICS
OPPORTUNITY COST
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
opportunity cost
|
|
|
rationing
|
|
|
reallocation
|
|
|
alternative
|
Detailed explanation-1: -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-2: -Rationing helped to change attitudes-the fact that everyone was restricted to buying a certain amount of goods, created a sense of sharing and cooperation in Britain. It was accepted that the Government was more involved in people’s health and food intake.
Detailed explanation-3: -Sugar was one of the first and longest items rationed, starting in 1942 and ending in 1947. Other foods rationed included coffee, cheese, and dried and processed foods.
Detailed explanation-4: -Although Germany and Japan made great quantitative and qualitative strides in arming and supplying their forces, the U.S. had two key strategic and logistical advantages: oil and water.
Detailed explanation-5: -Bacon and ham 4oz. Butter 2oz. Cheese 2oz. Margarine 4oz. Cooking fat 4oz. Milk 3 pints. Sugar 8oz. Jam 1lb every two months. More items