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When the market does not result in an efficient allocation of scarce resources economists call this?
market failer
What is an exception to the general idea that markets lead to an efficient allocation of resources?
Imperfect Compitition
What does efficient resource allocation mean?
economic resources-land, labor and capital-will be used for their most valuable purposes.
How does the free market ensurEs an efficient allocation of resources?
because there is no restriction on the usage of resourses so they can use according to their need.
How does the free market ensure efficient allocation of resources?
because there is no restriction on the usage of resourses so they can use according to their need.
Why is human resources important to the development of industry?
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.
What is an exception to the general idea that markets lead to an efficient allocation of resources?
Imperfect Compitition
When the market does not result in an efficient allocation of scarce resources economists call this?
market failer
Concept and function of business finance?
Allocation of financial Resources . Procurement of found . Efficient and Effective utilization of financial resources
Is it important to develop model of economy that can help us define and decide what is meant by efficient allocation of resources?
yes
What does efficient resource allocation mean?
economic resources-land, labor and capital-will be used for their most valuable purposes.
How do you become a reliable project manager?
You can assess the strategic management, effective supervision and efficient allocation of resources and also manage and coordinate people and resources
How does the free market ensurEs an efficient allocation of resources?
because there is no restriction on the usage of resourses so they can use according to their need.
How does the free market ensure efficient allocation of resources?
because there is no restriction on the usage of resourses so they can use according to their need.
What is the study of the allocation of resources?
ECONOMICS is the study of the allocation of SCARCE resources.
How does economics work to determine the allocation of resources in society?
Economics determines the allocation of resources in society through the forces of supply and demand. When resources are scarce, individuals and businesses make choices about how to allocate them based on their needs and preferences. Prices play a key role in signaling the scarcity of resources and guiding decision-making. In a market economy, prices adjust based on supply and demand, leading to the efficient allocation of resources to where they are most valued.
What is considered in efficient allocation of resources?
When the market rewards you: As a customer: with falling prices and increasing quality As a producer: with an increase in revenue, and customer volume
