--%>

Allocative Mechanisms-Random Selection

I have a problem in economics on Random Selection. Please help me in the following question. Rights to drill for the oil on government property are frequently assigned by lottery. If you are blessed you win drilling rights by just submitting your name. This is an illustration of: (i) Central planning. (ii) Random selection. (iii) Queuing. (iv) Arbitration.

   Related Questions in Econometrics

  • Q : Problem on Allocative Mechanisms The

    The allocation method not paired with a suitable illustration would be: (1) Merit - awarding improved grades to the students who perform excellent on an exam. (2) Arbitrary selection - Congress activates a draft to safe soldiers to serve up in Iraq. (

  • Q : Division of labor advantages for workers

    The advantages from the division of labor are improved as workers: (1) Are protected by the barriers which limit the international trade. (2) Who each recognize all facets of production gain an enhanced understanding of the whole project. (3) Constant

  • Q : Economics “Due to lower grain prices,

    “Due to lower grain prices, consumers can expect retail prices of choice beef to begin dropping slightly this spring with pork becoming cheaper after midsummer,” the Agriculture Department predicted. “This reflects increasing supply,” the department said. Does the statement use the term “supply” cor

  • Q : Allocative Mechanisms-Tradition I have

    I have a problem in economics on Allocative Mechanisms-Tradition. Please help me in the following question. The society in which your occupation is stated by your parent’s jobs probably inadequately bases too much decision on: (1) Queuing. (2) Brute force. (3) T

  • Q : Allocative and distributive decisions

    In countries which rely greatly on centralized decision making most: (i) Main allocative decisions are made by the consumers and business organizations. (ii) Allocative and distributive decisions are made by government. (iii) Nonhuman resources are owned and controlle

  • Q : Maximum output in absence of

    In the nonattendance of diminishing returns, the maximum output of food from the flower pot (or land) and limitless amounts of other resources would be sufficient to feed: (1) The grasshopper. (2) One skinny family. (3) One mouse. (4) All of the world.

    Q : Technology and Economic Growth

    Technological advances in the food production would make it probable to generate: (1) 40 units of food and a few clothing. (2) More than 40 units of food. (3) 70 units of clothing and greater than 20 units of food. (4) All of the above.

    Q : Involvement of Queuing I have a problem

    I have a problem in economics on Involvement of Queuing. Please help me in the following question. Queuing entails: (i) Fundamental skills for play pool. (ii) Low opportunity costs for the busy people. (iii) Assembly-line forms of the production. (iv) First-come, firs

  • Q : Consequence of division of labor Betsy

    Betsy possesses a cake decorating business, and working alone, she can make 10 wedding cakes a day. Though, whenever Betsy hired a helper, output enlarged to 30 wedding cakes daily. This raised output is most probable an outcome of: (1) Law of diminishing returns. (2)

  • Q : Production frontier model requirements

    I have a problem in economics on Production frontier model requirements. Please help me in the following question. The production possibilities frontier model doesn’t need supposing that: (1) Technology is stable. (2) Resources are fixed. (3) Output mixes are co