Economics Allocation Quiz

This Allocation Strategy uses votes and which ever has the most is the winner

• Authority

• Majority Rule

• Force

• Price

Putting names into a hat and drawing them for the winner is an example of what Allocation Strategy

• Random Selection

• First Come first serve

• Competition

• Opportunity Cost

The newest game system is coming out in November. They have a limited amount at the store. Only the first 100 Customers will get one. This is an example of what

• Market

• First Come First Served

• Lottery

• Authority

People Choosing marriage partners is an example of what Allocation Strategy

This method of Allocation Strategy involves luck

• Force

• Price

• Lottery

• Random Selection

Professional Sports teams want to win the championship because the get more money. This is an example of what Allocation Strategy

• Price

• Authority

• Competition

• Force

Recourses are allocated by highest value is an example of what Allocation Strategy

• Price

• Competition

• Lottery

• Free Market

The classroom is an example of this Allocation Strategy

• Competition

• Lottery

• Price

• Authority

We were had to stay home due to Covid-19 and we had a curfew this is an example of what Allocation Strategy

• Force

• Authority

• Price

• Competition

Create laws and provide courts, provide information and services to help economy function better, establish a monetary system, define and enforce property rights is an example of which roll of government

• Redistributing Income

• Providing Public Goods and Services

• Correcting for Externalities

• legal and social framework