ECONOMICS is the study of the allocation of SCARCE resources.

Economics is about the allocation of resources for the production and distribution of goods and ___________.

the difference in market and government occurs in the allocation of resources and labor division which determines the prices

How the opportunity cost can be applied to the production process for the allocation of resources. How the opportunity cost can be applied to the production process for the allocation of resources.

Hierarchical location-allocation modelling refers to the allocation or the distribution of resources according to the hierarchy. People on the upper level of the chain are usually allocated with most of the resources.