By what methods are your household's scarce resources allocated? Identify those allocated by market price; by command; by first-come, first-served; and by equal shares. Any resources allocated by majority vote?

Now the tough part: Are these resources allocated efficientlyis the value of your household's resources maximized? Think about how you can check whether marginal benefit equals marginal cost for each of your household's activities.

And now an even tougher question: Are your household's resources allocated fairly? Think about the two ideas of fairness and how they apply in your household.