MARGIN COST/BENEFIT
Different methods can be used to allocate goods and services. People acting individually or collectively through government, must choose which methods to use to allocate different kinds of goods and services.
At the completion of Grade 4, students should know the following benchmarks for this standard:
No method of distributing goods and services can satisfy all wants.
There are different ways to distribute goods and services (by prices, command, majority rule, contests, force, first-come/first-served, sharing equally, lottery, personal characteristics, and others), and there are advantages and disadvantages to each.
MARGIN COST/BENEFITDifferent methods can be used to allocate goods and services. People acting individually or collectively through government, must choose which methods to use to allocate different kinds of goods and services.At the completion of Grade 4, students should know the following benchmarks for this standard: No method of distributing goods and services can satisfy all wants.There are different ways to distribute goods and services (by prices, command, majority rule, contests, force, first-come/first-served, sharing equally, lottery, personal characteristics, and others), and there are advantages and disadvantages to each.
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