Allocating Products with Long Lines, Using a First-Come, First-Served System

question 100

Multiple Choice

Allocating products with long lines, using a first-come, first-served system, is:

• A) the only way scarce goods can be allocated.
• B) necessary when waiting is a costless exercise.
• C) efficient, since people who are willing to wait the longest get the products.
• D) inefficient, because waiting wastes time.

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Definitions:

Risky Shift

The phenomenon where a group collectively decides on a course of action that is more extreme than they would have decided individually.

Group Polarization

The tendency for a group to make decisions that are more extreme than the initial inclination of its members following group discussion.

Political Organization

A political organization refers to a group structured to promote, pursue, and achieve political objectives and ideologies.

Groupthink

a psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.