rationing

(redirected from ration)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.
Related to ration: C Ration
Rationingclick for a larger image
Fig. 165 Rationing.

rationing

a physical method of allocating a product that is in short supply relative to demand (EXCESS DEMAND). In a free market this situation would not arise - the excess demand would be ‘choked off and additional supply encouraged by an increase in the price of the product (see EQUILIBRIUM MARKET PRICE). But if the price is fixed below its equilibrium rate (for example, by the government wishing to hold down the prices of key products such as food), the use of ration tickets provides one practical means of allocating the available supply between consumers on an equitable basis.

In Fig. 165, for example, if the price of a product is fixed by the government at Or, then it is necessary to ration the amount of output that producers are willing to supply, OQr, at this price amongst consumers who are demanding the greater amount of OQs. See also BLACK MARKET, PRICE CONTROLS.

References in classic literature ?
He was standing in the messroom at the time and the evening rations were being served out.
They were not too abundantly provisioned, and they were put on short rations, and for all the thick garments they had, they were but ill-equipped against the piercing wind and inhospitable violence of this wilderness.
Alexander Smollett, master; David Livesey, ship's doctor; Abraham Gray, carpenter's mate; John Trelawney, owner; John Hunter and Richard Joyce, owner's servants, landsmen--being all that is left faithful of the ship's company--with stores for ten days at short rations, came ashore this day and flew British colours on the log-house in Treasure Island.
I explained that at times, the energy content of a chicken feed ration (ME) rather than other nutrients, is what determines the feed intake, growth and reproduction.
It was also stated in the letter that those users who do not have Aadhaar card at the district/state level should be encouraged to make it and also to link it with their ration cards.
the current annual consumption volume of the 24-hour gp ration is circa 1 500 000 rations.
Haddad and Ereifej (2004) observed that substituting BBP can substitute barley grain up to 30% of the ration.
Research just unearthed shows that the tough ration restrictions led to an epidemic of FLATULENCE.
However, eight out of 10 said it was right to ration treatments to ensure the NHS could survive financially.
62 crore bogus ration cards and streamlining the public distribution system in the country have saved around ` 10,000 crore of public money in last two years of the Narendra Modi government.
KARACHI -- A stampede broke out during ration distribution at city's Expo Centre leading to minor injuries among women who had gathered to collect ration sacks.
The government started applying this new system in subsided bread sales through smart ration and bread cards last September.