In the long run, under which allocation mechanism will a society grow most quickly?

Question

Quizplus · Accepted Answer

A market allocation mechanism encourages individuals and firms to make efficient decisions about production and consumption based on their own self-interest. This can lead to innovation, increased productivity, and ultimately sustained economic growth. Government allocation mechanisms may not always be focused on efficiency and may lead to unintended consequences or inefficiencies. First-come, first-served and random allocation mechanisms do not incentivize efficient decision-making and may lead to suboptimal outcomes in the long run.

In the Long Run, Under Which Allocation Mechanism Will a Society