1. In October of 2004, the supply of flu vaccine fell by over 50 percent. The result was that the vaccine had to be rationed, with a priority schedule established: young children, people with weakened immunity, those over 65, etc., taking priority.
Compare and contrast this allocation outcome with a free market outcome.
Which alternative is more just?
2. What is an economic model? What besides a model do economists need to make policy recommendations?