ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC SYSTEMS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Waiting in line to get the limited amount of items available.
A
1st Come-1st Serve
B
Command
C
Lottery
D
Rationing
Explanation: 

Detailed explanation-1: -The idea of FIFO queuing, also called first-come, first-served (FCFS) queuing, is simple: The first packet that arrives at a router is the first packet to be transmitted. This is illustrated in Figure 6.5(a), which shows a FIFO with “slots” to hold up to eight packets.

Detailed explanation-2: -First come, first served describes a situation whereby customers are served in the order in which they arrive, those who arrive first are served first. According to Merriam-Webster, which is the largest dictionary, the phrase means in the order of people’s or requests’ arrivals.

Detailed explanation-3: -The expression first come, first served is similar to “the early bird gets the worm.” If the new bakery in town offers free cookies first come, first served, you better get in line right now before they run out. There’s no making a reservation, no buttering up the owner: the first people there get the cookies.

Detailed explanation-4: -The correct expression is “First come, first served, ” as in “the first to arrive will be the first to have service provided.”

There is 1 question to complete.