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How may an organisation allocate resources to people and activities in order to achieve its objective?
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How does the market allocate resources?
Through price mechanism...
What is objectives of planing economics?
As Market cannot allocate resources properly planning is needed to allocate resources in the most efficient manner, reduce inequality among the people, give adequate standard of living for all people. It was done in the Soviet Union.
The study of how individuals and governments allocate scarce resources in an attempt to satisfy unlimited wants is?
Economics
How important is the study of economics?
Economics is how we as humans efficiently allocate scarce resources. These resources can be something as basic as food or something as immaterial as information. And because everyone needs to eat and have shelter, and economics is the study of how we allocate those things, economics is a very important subject.
What decisions about production must be made to allocate resources effectively?
Information is the basic resource from which decisions are made.
Management what is organizing?
Organizing is just a process where by managers assembles all resources of a company and allocate them into specific locations to be utilized for the achievement of an organisation towards its specific goals.
What do you call computers that allocate resources?
nodes
In a command economy the government does not do?
Allocate resources.
In a command economy what does the government do?
Allocate resources.
in a command economy the government do not do?
Allocate resources.
In command economy the government does not do what?
Allocate resources.
What does government do in a command economy?
Allocate resources.
How does the market allocate resources?
Through price mechanism...
Is price mechanism the best way to allocate resources?
Price is the most efficient, fastest way to allocate resources, but it is not always the best. For example, rare resources such as medicines would be available only to the richest members of society and would likely be hoarded or driven to an underground economy.
What are the 2 basic natural resources that economic systems allocate?
Money, goods & services
What is the economic life of a country?
Economic is the science which is concerned with how socities allocate scarce resources.
What is objectives of planing economics?
As Market cannot allocate resources properly planning is needed to allocate resources in the most efficient manner, reduce inequality among the people, give adequate standard of living for all people. It was done in the Soviet Union.
