When a Scarce Resource Is Allocated to Someone Who Is

question 58

Multiple Choice

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

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

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Definitions:

Factor Analysis Method

A statistical technique used to identify underlying variables, or factors, that explain the pattern of correlations within a set of observed variables.

Benchmarking Method

A process of comparing business processes and performance metrics to industry bests or best practices from other companies.

Comparable Worth Laws

Legislation designed to ensure that jobs of equal value to the employer are compensated equally, irrespective of gender or other irrelevant factors.

Male-Female Wage Gap

The persistent disparity in average earnings between men and women, often measured within the same roles, industries, or across the labor market as a whole.