A Contest Is a Good Way to Allocate Scarce Resources

question 54

Multiple Choice

A contest is a good way to allocate scarce resources when

• A) the efforts of the players are hard to monitor directly.
• B) the lines of responsibility are clear.
• C) the decision being made affects a large number of people.
• D) there is no effective way to distinguish among potential users.

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Definitions:

Cultural Art

Expressions of creativity that represent the traditions, beliefs, and practices of a society or community, including music, dance, painting, sculpture, and other forms of artistic activities.

Collective Unconscious

A concept in psychoanalysis proposing a part of the unconscious mind shared among beings of the same species, containing universal archetypes.

Personal Unconscious

Carl Jung's concept of a component of the mind containing memories and impulses of which the individual is not aware.

Superego

According to Freud, the moral component of personality that incorporates social standards about what represents right and wrong.