Which of the Following Situations Describing a Resource Allocation Method

question 239

Multiple Choice

Which of the following situations describing a resource allocation method most resembles the market price method?

• A) Food from the Weld County Food Bank is distributed to families in need.
• B) Lattes are sold at Starbucks.
• C) Jose works at Intel. His manager tells him what work needs to be completed each month.
• D) Matt's mother had the rule that whoever cuts the cake chooses their slice last.
• E) Seventy percent of Austin's chess club wanted to purchase new chess sets and thirty percent did not. The club purchased the sets.

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Definitions:

Opportunity Cost

The cost of an alternative that must be forgone in order to pursue a certain action, essentially what is given up when choosing one option over another.

Key Performance Indicator

A quantifiable metric that shows how successfully a business is meeting its primary goals.

SMART Objectives

Specific, Measurable, Achievable, Relevant, and Time-bound goals that provide clear direction and criteria for success.

Tracking

The process of monitoring and recording the behavior or movements of objects or people, often used in the context of data analysis and optimization.