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How opportunity costs are linked to economic decision making Markets under ideal conditions ensure an efficient allocation of scarce resources but in practice conditions are usually not ideal cri?
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∙ 14y ago
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∙ 14y ago
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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 ensure 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 ensurEs an 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.
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
Concept and function of business finance?
Allocation of financial Resources . Procurement of found . Efficient and Effective utilization of financial resources
What does efficient resource allocation mean?
economic resources-land, labor and capital-will be used for their most valuable purposes.
Is it important to develop model of economy that can help us define and decide what is meant by efficient allocation of resources?
yes
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 ensure 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 ensurEs an 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.
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
The law of increasing opportunity costs exists because?
because resources are not equally efficient in producing various goods
