Question : 6.1   Allocation Methods and Efficiency 1) Walmart has a limited number : 1226482

6.1   Allocation Methods and Efficiency

1) Walmart has a limited number of “Black Friday” (the day-after Thanksgiving Day) special items on sale at prices well below their typical price. Walmart opens at 10 PM on Thanksgiving. Walmart is using a ________ allocation method for these items.

A) first-come, first-served

B) market price

C) contest

D) majority rule

E) command

2) Often people trying to withdraw money from their bank must wait in line, which reflects a ________ allocation method.

A) first-come, first-served

B) market price

C) contest

D) majority rule

E) command

3) University of Colorado reserves 5,000 free tickets to each home football game for students. Students must stand in line to receive their ticket. Football tickets are allocated through which method?

A) market price

B) sharing equally

C) personal characteristics

D) first-come, first-served

E) force

4) Auditors working for a large accounting firm are often away from the office. When they are in the office, they are allowed to use any desk that is available. Which method is used to allocate desks?

A) lottery

B) first-come, first-served

C) command

D) contest

E) sharing equally

5) Mandy saved her allowance to buy a 12 pack of cream soda. When Mandy’s brother saw the soda, he took four. Sodas were allocated between Mandy and her brother through

A) force.

B) majority rule.

C) first-come, first-served.

D) sharing equally.

E) personal characteristics.

6) Which of the following situations describing a resource allocation method most resembles the force method?

A) Seventy percent of Austin’s chess club wanted to purchase new chess sets and thirty percent did not. The club purchased the sets.

B) Lattes are sold at Starbucks.

C) Food from the Weld County Food Bank is distributed to families in need.

D) Mandy saved her allowance to buy a 12 pack of cream soda. When Mandy’s brother saw the soda, he took four.

E) Jose works at Intel. His manager tells him what work needs to be completed each month.

7) Honda will sell its vehicles to anyone who wants to and can buy one. Honda is using a ________ allocation method.

A) first-come, first-served

B) market price

C) contest

D) majority rule

E) command

8) The resource allocation method used for the online auctions on eBay is

A) market price.

B) lottery.

C) contest.

D) first-come, first-served.

E) sharing equally.

9) Lattes at Starbucks are allocated to individuals in society through what type of method?

A) lottery

B) contest

C) sharing equally

D) market price

E) personal characteristics

10) Which of the following situations describing a resource allocation method most resembles the market price method?

A) Food from the Weld County Food Bank is distributed to families in need.

B) Lattes are sold at Starbucks.

C) Jose works at Intel. His manager tells him what work needs to be completed each month.

D) Matt’s mother had the rule that whoever cuts the cake chooses their slice last.

E) Seventy percent of Austin’s chess club wanted to purchase new chess sets and thirty percent did not. The club purchased the sets.