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In a World of Scarcity, There Has to Be Some

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In a world of scarcity, there has to be some way to ration the available resources. According to economists, the most efficient use of available resources occurs when rationing occurs via


Definitions:

Applied Voltage

The electrical potential difference purposely introduced across a device or component, driving the current through it.

Resistance

An electrical quantity that measures how the device or material reduces the electric current flow through it, measured in Ohms (Ω).

Voltage Across

The electrical potential difference between two points in a circuit, driving the flow of current between those points.

Applied Voltage

The external voltage applied across an electrical device or a component within a circuit.

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