ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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.

Detailed explanation-2: -/ˈræʃ. ən/ to limit the amount of a particular thing that someone is allowed to have: Do you remember when petrol was rationed to five gallons a week? My children would watch television all day long, but I ration it.

Detailed explanation-3: -Description: Rationing is done to ensure the proper distribution of resources without any unwanted waste. Banks use credit rationing to control lending beyond the monetary base of the bank. Controlling the prices and demand and supply leads to availability of goods and services for every section of the society.

Detailed explanation-4: -The government can pursue two main types of rationing in economics to tackle crises: non-price rationing and price rationing.

Detailed explanation-5: -(fuːd ˈræʃənɪŋ ) the practice of having a fixed allowance of food, esp a statutory one for civilians in time of scarcity or soldiers in time of war.