What is the term for an allocation system where sellers are allowed to determine the method of allocation on the basis of their own preferences?

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Quizplus · Accepted Answer

The term for an allocation system where sellers are allowed to determine the method of allocation on the basis of their own preferences is "producers' preference." In this system, producers have the power to choose the method of allocation that works best for them, such as first-come, first-served, or highest bidder. This can lead to a more efficient allocation of goods, but can also result in inequities and distortions in the market.

What Is the Term for an Allocation System Where Sellers