In a World of Scarcity, There Has to Be Some

question 99

Multiple Choice

In a world of scarcity, there has to be some way to ration the available resources. According to economists, the most efficient use of available resources occurs when rationing occurs via

• A) queuing.
• B) lotteries.
• C) political power.
• D) the price system.

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Definitions:

Capital Punishment

The sanctioned execution of an individual by the state as retribution for committing a crime, commonly known as capital punishment.

Criminal Justice

Criminal Justice refers to the system of practices and institutions of governments directed at upholding social control, deterring and mitigating crime, and sanctioning those who violate laws with criminal penalties and rehabilitation efforts.

Ethical Standards

Guidelines or principles designed to govern behavior in a professional or personal setting, based on notions of right and wrong.