Some of the answers are the following:
1. Lack of money, technology and human capital. - specifically talking about poverty. Productivity in this areas remains low and the standard of living is usually at the subsistence level.
2. Lack of literate and skilled labor - laborers are deprived of educational opportunities.
3. Overpopulation.
4. Greed and misappropriation.
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
ECONOMICS is the study of the allocation of SCARCE resources.
Some of the answers are the following: 1. Lack of money, technology and human capital. - specifically talking about poverty. Productivity in this areas remains low and the standard of living is usually at the subsistence level. 2. Lack of literate and skilled labor - laborers are deprived of educational opportunities. 3. Overpopulation. 4. Greed and misappropriation.
Problems related to the allocation of factors of production and distribution of income often arise due to market inefficiencies, unequal access to resources, and varying degrees of bargaining power among different economic agents. These issues can lead to underutilization of resources, inequitable income distribution, and social unrest. Additionally, externalities and public goods can complicate the efficient allocation of resources, resulting in market failures. Addressing these challenges typically requires government intervention or regulatory frameworks to promote fairer distribution and optimal resource use.
Economics is about the allocation of resources for the production and distribution of goods and ___________.
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
ECONOMICS is the study of the allocation of SCARCE resources.
Some of the answers are the following: 1. Lack of money, technology and human capital. - specifically talking about poverty. Productivity in this areas remains low and the standard of living is usually at the subsistence level. 2. Lack of literate and skilled labor - laborers are deprived of educational opportunities. 3. Overpopulation. 4. Greed and misappropriation.
Economics is about the allocation of resources for the production and distribution of goods and ___________.
Problems related to the allocation of factors of production and distribution of income often arise due to market inefficiencies, unequal access to resources, and varying degrees of bargaining power among different economic agents. These issues can lead to underutilization of resources, inequitable income distribution, and social unrest. Additionally, externalities and public goods can complicate the efficient allocation of resources, resulting in market failures. Addressing these challenges typically requires government intervention or regulatory frameworks to promote fairer distribution and optimal resource use.
Resource allocation refers to setting aside resources. Resource utilization refers to how resources are used.
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.
Resources
when total resources in an economy is not equally allocated among four factors of production i.e land, labor, capital and organization then allocation of resources in an economy considered to be inefficient.
'Resource Allocation' is a management terminology phrase for the scheduling of activities and resources needed to complete them whilst taking into consideration both the time needed to complete and effort it will take.