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22 February, 14:35

True or false: suppose that the hypothetical country of paddyland has a chronic scarcity of rice, its staple grain. this implies that if paddyland has a market economy, rice will be available only for a price.

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  1. 22 February, 14:38
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    If Paddyland was a true market economy with no government interaction, then a scarcity of rice would mean that the price of rice would go up until the level of supply and demand evened out.
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