When a Scarce Resource Is Allocated to Someone Who Is

question 98

Multiple Choice

When a scarce resource is allocated to someone who is the winner,the method of resource allocation is

• A)a lottery.
• B)a contest.
• C)first-come, first-served.
• D)force.
• E)personal characteristics.

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Definitions:

Responsible Person Doctrine

A legal principle that holds an individual personally liable for unpaid taxes or obligations of a business, based on the level of control or authority they have over the financial operations of the entity.

Insider Information

Insider information consists of non-public, material information about a company or its securities that could influence an investor's decision to buy, sell, or hold the stock.

Par-Value Stock

Shares of a company that have a minimum fixed face value; the value is set at the time the shares are issued.

Stock Certificate

A physical document that represents ownership of a certain number of shares in a corporation.