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What decisions about production must be made to allocate resources effectively?
Wiki User
∙ 9y ago
Information is the basic resource from which decisions are made.
Wiki User
∙ 9y ago
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How is scarcity related to study of economics?
Economics at its heart is the study of decisions made in order to efficiently allocate resources. Scarcity refers to the lack of unlimited resources in regards to the three inputs of production, labor, land and capital.
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
True or false Government steps in to allocate resources efficiently so that the country is operating on its production possibilities curve instead of under it?
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How does the market allocate resources?
Through price mechanism...
How is scarcity related to study of economics?
Economics at its heart is the study of decisions made in order to efficiently allocate resources. Scarcity refers to the lack of unlimited resources in regards to the three inputs of production, labor, land and capital.
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What made a scarcity?
A scarcity is created when people have unlimited wants, or needs, but their resources are limited. When scarcity happens, many economic decisions must be made to efficiently allocate resources.
What do you mean by corporate strategy?
These are basically about decisions related to allocate the resources among different business of a firm,to transfer the resources from one set of business to others,to manage and nurture of port polio business .These decisions are taken to gain corporate level strategies.
True or false Government steps in to allocate resources efficiently so that the country is operating on its production possibilities curve instead of under it?
hahahhaahhahahah
What is the science and activity of governing and social leadership?
The science and activity of governing and social leadership is known as political science or governance. It involves the study of how societies make decisions, allocate resources, and create policies to address public issues, as well as the practice of leading and managing these processes effectively.
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.
