Contests Do a Good Job in Resource Allocation

question 101

Multiple Choice

Contests do a good job in resource allocation

• A)under any circumstances.
• B)when the efforts of the players are easy to monitor and reward directly.
• C)when the efforts of the players are hard to monitor and reward directly.
• D)when the first-come,first-served allocation method has failed.
• E)only under a command system.

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Definitions:

Breach

The violation or non-fulfillment of a legal obligation, agreement, or duty.

UCC

An acronym for the Uniform Commercial Code, which regulates sales and commercial transactions in the United States to bring uniformity across state laws.

Goods

Tangible products or merchandise that are produced, bought, and sold in the course of business operations.

Incidental Damages

Compensation for additional unexpected expenses that arise directly from a breach of contract, beyond the direct loss or damage incurred.