Question

Soal 9 The resource allocation method that is used to allocate scarce resources between private use...

Soal 9 The resource allocation method that is used to allocate scarce resources between private use and government use is Select one
a. first-come, first-served.
b. lottery.
C. majority rule,
d. personal characteristics.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Correct answer is option c i.e. majority rule as it is used when decision affects several people and self interest is put down in such a way that scarce resources are used efficiently. Tax rates allocate resources between private and government use and tax dollars allocate resources between different competing uses.

Option a is incorrect as first come , first served method is used to allocate resources depending upon who was first in line. This method is best when scarce resources can serve just a single individual at a time.

Option b is incorrect as lottery method is used when there is no effective method to distribute scarce resources among potential users.

Option d is incorrect as personal characteristics as this method only allocate resources to those who have right characteristics.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Answer two of the following questions : 1)      Explain the resource allocation methods that existed or exist...
Answer two of the following questions : 1)      Explain the resource allocation methods that existed or exist in your local, regional or national economy and how they work. Give specific examples of at least two of the 9 methods described in the lecture: Market price Command Majority rule Contest First-come, first-served Sharing equally Lottery Personal characteristics Force 2)      Give two examples, one of a good and one of a service that you buy and distinguish between the price that you pay...
Scarce water and population boom leads California to​ "perfect drought" As the summer heats​ up, sprinklers...
Scarce water and population boom leads California to​ "perfect drought" As the summer heats​ up, sprinklers that make southern California habitable might be banned. Melanie​ Winter, of the​ LA-based River​Project, reported that LA needs to conserve rain water rather than channeling it into the sea and make the city less dependent on water from the Colorado River. ​Source: The Guardian​, June​ 25, 2007 In​ 2007, is water allocated in the social interest or​ self-interest? What allocation method would be more...
1) Because resources are scarce relative to human wants, economics is best described as 1) A)...
1) Because resources are scarce relative to human wants, economics is best described as 1) A) the science of allocating productive resources fairly. B) a science of choice. C) the science of allocating goods and services fairly. D) the set of natural laws that govern human behavior in the face of adverse conditions. 2) Labor economics is studied as a distinct subfield of economics because 2) A) the bulk of national income is received by labor. B) the concepts of...
1. Explain two main reasons why we need to study public finance 2. Distinguish between the...
1. Explain two main reasons why we need to study public finance 2. Distinguish between the “organic view” and “mechanistic view” of the existence of government 3. Explain the concept of market failure and discuss five reasons why there is market failure 4. What is meant by market failure? Identify and discuss four conditions under which the market fails to optimally allocate resources. 5. What is meant by the term government failure and explain five reasons why there may be...
1- Many U.S. firms with a large percentage of their revenues derived in foreign countries prefer...
1- Many U.S. firms with a large percentage of their revenues derived in foreign countries prefer to leave their cash outside the United States because using those funds to pay dividends or purchase treasury stock would Select one: a. promote foreign investment. b. require a big U.S. corporate income tax payment. c. create pressure for decreased exporting. d. decrease foreign exchange. e. inflate stock prices. 2- In projected financial statements, what is used as a plug figure? Select one: a....
The Relationship Between State Agencies and Nonprofit Organizations Introduction The relationship between government agencies and nonprofit...
The Relationship Between State Agencies and Nonprofit Organizations Introduction The relationship between government agencies and nonprofit organizations is the focus of increasing attention within the public administration community. Practitioners recognize that the organization of public services relies to a substantial degree upon what we have come to call third-party government (Salamon, 1981). Nongovernmental actors not only deliver government-funded services but also actively participate throughout the policy process. Often the third-party is a nonprofit organization. In the last decade or so,...
1.) True or False? For all societies, resources are scarce, and technology is limited, while people’s...
1.) True or False? For all societies, resources are scarce, and technology is limited, while people’s wants and needs for goods and services seem to be unlimited. (2 points) 2.) (1 point) Adam Smith’s “invisible hand” refers to a.) the subtle and often hidden methods that businesses use to profit at consumers’ expense. b.) the ability of free markets to reach desirable outcomes, despite the self-interest of market participants. c.) the ability of government regulations to benefit consumers, even if...
PART 1: Critical Thinking ARTICLE adapted from: Low-Income Parents Of 'Difficult Children' Likely To Use iPads...
PART 1: Critical Thinking ARTICLE adapted from: Low-Income Parents Of 'Difficult Children' Likely To Use iPads To Pacify Kids 2 March 2016, 9:27 pm EST By Angela Laguipo Tech Times In a world of technological advancement, mobile devices are widely used by people of all ages, including children. A new study found that when children are in tough situations and are having emotional difficulties, their parents are more likely to give an iPad than when the children are behaving calmly....
Requirements The task is basically to establish a relation between the two variables by applying statistical...
Requirements The task is basically to establish a relation between the two variables by applying statistical measures. The relation should be clear after that and enough to form an interpretation of about 1000 words where the enitre method is explained and the results are analyzed. Below is a little background of the topic and the research question to help you get an idea. I have attached the file as well that contains that data on which relation needs to be...
1. Long-term or relatively permanent assets such as equipment, machinery, buildings, and land. They exist physically;...
1. Long-term or relatively permanent assets such as equipment, machinery, buildings, and land. They exist physically; they are owned and used by the company in its normal operations; and they are not offered for sale as part of normal operations. a) What are intangible assets? b) What are current assets? c) What are short-term investments in marketable securities? d) What are fixed assets? 2. Costs that benefit only the current period. These costs include such items as ordinary repairs and...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT