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What are the resources allocation under perfect competition?
In economics, perfect competition is a structure that allocates resources as efficiently as possible. When this happens, price and marginal cost are equal.
What is an optimum resource allocation?
Optimum allocation is when productive and allocative efficiency co-exist. Productive efficiency is achieved when when products are made with the least possible use of the resources, i.e, by incurring lowest possible costs in producing them Allocative efficiency is achieved when the combination of products produced provide consumers the greatest possible satisfaction, i.e, goods which are most wanted are produced When both these elements are present, there is also economics efficiency. This means that resources are used in the best way possible, i.e, producing the goods which are most wanted with the least possible use of resources
Why optimization is so important in economics?
in an economy we have limited resources with unlimited want. in order to get the maximum possible solution to meet our desire we need to ensure the optimum use of our resources.
How would you describe an economy that uses it resources to make the greatest possible number of a good and services?
Efficient.
What is optimum allocation?
Optimum allocation is when productive and allocative efficiency co-exist. Productive efficiency is achieved when when products are made with the least possible use of the resources, i.e, by incurring lowest possible costs in producing them Allocative efficiency is achieved when the combination of products produced provide consumers the greatest possible satisfaction, i.e, goods which are most wanted are produced. When both these elements are present, there is also economics efficiency. This means that resources are used in the best way possible, i.e, producing the goods which are most wanted with the least possible use of resources Tried using simple English. Hopefully it helps. Thx
Is it possible to reverse Zelle transfers?
No, it is generally not possible to reverse Zelle transfers once they have been completed.
Is it possible to reverse wire transfers?
No, it is generally not possible to reverse wire transfers once they have been completed.
Which two methods of heat transfers are possible with liquids?
Coduction and convection.
Will brain transfers ever be possible?
yer probably but not for another 20 to 30 years
Is it possible to reverse bank transfers?
In general, it is difficult to reverse bank transfers once they have been completed. However, some banks may offer a limited window of time during which a transfer can be reversed or canceled. It is important to contact your bank as soon as possible if you need to reverse a transfer.
What is a possible Natural resources in the lake?
Water
What is the greatest extent possible that can be achieved with the given resources?
The maximum potential that can be reached with the available resources.
is it possible to send bank wire transfer from Iran to Nigeria?
Never send wire transfers. if there is a problem, the money is gone.
Is it possible to access academic resources for free when Libgen is down?
Yes, it is possible to access academic resources for free through alternative websites such as Sci-Hub or through university libraries that offer online databases and resources.
Is it possible to have a checkless society and how?
Checkless societies are possible with the growing trend toward electronic transfers and ATM cards. Many people in industrialized countries use electronic funds exclusively.
Is it possible for me to do a balance transfer to another person?
No, balance transfers are typically done between accounts held by the same person, not to another individual.
What is the purpose of the possible?
to show alternative ways to use an economy's resources
