Colorado State University Allocates 10,000 Tickets for Each Home Game

question 177

Multiple Choice

Colorado State University allocates 10,000 tickets for each home game to students at no cost. Students are required to stand in line and prove they are a full time student to receive a free ticket. How is the scarce resource in this example allocated?

• A) first-come, first-served
• B) market price
• C) contest
• D) lottery

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Definitions:

Modernization Theory

A theory suggesting that societies progress linearly from traditional to modern states, emphasizing the role of technology and economic development in this transition.

Dependency Theory

A socioeconomic theory suggesting that resources flow from poor, underdeveloped states to wealthy states, enriching the latter at the expense of the former.

World Systems Theory

A socio-economic theory that suggests the world is divided into core, semi-peripheral, and peripheral countries, with wealth and power concentrated in the core.

Commodity Chain

The network of production and labor processes by which a product becomes a finished commodity. By following the commodity chain, it is evident which countries gain profits and which ones are being exploited.