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A system of allocating scarce goods and services using criteria other than price is .?
A system of allocating scarce goods and services using criteria other than price is known as a non-price rationing mechanism. Non-price rationing mechanisms include methods such as first-come, first-served, lottery, merit-based allocation, and need-based allocation. These mechanisms are often used in situations where price-based allocation may not be fair or equitable, such as in healthcare, education, or disaster relief efforts.
What is the difference between constant opportunity cost and increasing opportunity cost, and how does this impact decision-making in resource allocation?
Constant opportunity cost refers to a situation where the cost of producing one more unit of a good remains the same. Increasing opportunity cost occurs when the cost of producing one more unit of a good increases as more units are produced. In decision-making for resource allocation, constant opportunity cost allows for easier decision-making as the trade-offs remain consistent. On the other hand, increasing opportunity cost makes decision-making more complex as the trade-offs become more significant with each additional unit produced. This can lead to more careful consideration and evaluation of resource allocation decisions.
Is gold plentiful or scarce?
Gold is considered scarce due to its limited availability in the Earth's crust and the challenges associated with mining it. While it can be found in various locations around the world, the extraction process is complex and requires significant resources. Additionally, the total amount of gold that has ever been mined is relatively small compared to other metals, contributing to its perception as a precious and valuable resource.
Price floors and ceilings stifle the rationing function of prices and distort resource allocation?
Economists have said that "price floorsand price ceilings stifle (prevent) the rationing function of prices and distort resource allocation." Consider what happens after a hurricane, prices are often frozen to pre-hurricane prices through "price gouging laws" to protect the consumer. Is this an example of a price ceiling or a price floor?This occurs for gasoline as well as for groceries and other products that might be in high demand after the damage of a hurricane. What is the impact in the market place of these limits?
Is economics inrelevant in absence of scarcity?
Scarcity is a relative aspect. Consider there is 'abundant' X and also 'abundant' Y but the consumer has to decide how much Income (Income may also be considered abundant) to allocate between X and Y (Now though both abundant they may be relatively scarce i.e. when compared to each other), and this is done from his perception of utility which is an economic concept. So economics is also the study of optimal allocation, in scarce or abundant scenario.
A system of allocating scarce goods and services using criteria other than price is .?
A system of allocating scarce goods and services using criteria other than price is known as a non-price rationing mechanism. Non-price rationing mechanisms include methods such as first-come, first-served, lottery, merit-based allocation, and need-based allocation. These mechanisms are often used in situations where price-based allocation may not be fair or equitable, such as in healthcare, education, or disaster relief efforts.
What are the difference methods of allocating the overheads of service cost centre?
There are three methods of service department allocation are in general use . 1- Direct method Ther direct method is the simplest the direct method allocates service department costs directly to the producing departments without regard for services rendered by service departments to each other. service department costs are allocated to production departments based on an allocation base appropriate to each esrvice department's function. 2- The step or step-down method Allocates some of costs of services rendered by service dapartments of each other. The step method derives its name from the procedure involved : the service departments are allocated in order, from the one that provides the most service to other service department down to the one that provides the least . 3- the reciprocal method Is the most complex and the most theoretically sound of the three methods. it is also known as the simultaneous solution method, cross allocation method, matrix allocation method,or double distribution method. The reciprocal method recognizes services rendered by all service departments to each other. BY AMIR KAMAL MASSOUD
How do you calculate Step down Allocation?
Step-down allocation, also known as the sequential allocation method, involves distributing service department costs to both production and other service departments. To calculate it, first allocate the costs of the service departments to other service departments based on a predetermined allocation base (like labor hours or machine hours). After allocating costs to service departments, the remaining costs are then allocated to production departments. This method ensures that all costs are accounted for, providing a clearer picture of the overall cost structure.
What is resource leveling?
Resource leveling - Resource leveling is not an independent schedule network analysis method. It is applied to the schedule that has already been analyzed using other methods, such as the critical path method or the critical chain method. The resource leveling technique is applied to address the resource needs of activities that must be performed to meet specific delivery dates. Resource leveling involves taking a part of the resources from one activity and assigning it to another. This will change the activity durations and can also result in a change of critical paths.
What are other words for soap and water is it starch flare source or scarce?
what does scarce
What is called a resource so scared that a limits the size of a population?
A resource that is so scarce that it limits the size of a population is called a "limiting resource." This resource can include essentials such as food, water, shelter, or other necessities that are in short supply. When the availability of these resources decreases, the population size is constrained, leading to competition among individuals for survival. Limiting resources play a crucial role in regulating population dynamics and ecosystem balance.
What is the role of bio-statistics in public health planning?
resource allocation in both human and material. Allocate adequate budget to areas with more needs tha the other CAPACITY BUILDING SKILLS DEVELOPMENT AS PER FINDINGS
Step down method and reciprocal method?
Both step-down method and reciprocal method belongs to the allocation metods which can be used to allocate support department costs to opertating department. (Now, I wanna tell you the three allocation methods are direct method, step-down method and reciprocal method.) First of all, the step-down method allocates some (but not all) support department costs to other support departments. Secondly, the first support department's costs are allocated to all operating and support departments that use its services. Then, each subsequent support department's costs are allocated to all operating and support departments that use its services, except any support department whose costs were already allocated. What's more, allocation order must be determined. For reciprocal method, first and foremost, the reciprocal method allocates all support department costs to other support departments. Secondly, the first step is to compute the total costs of each support department when its usage of other support department services is taken into consideration. In addition, support department costs are then allocated to all other operating and support departments that consume its services. I hope my answer can help your work. If I have some grammar mistakes, please point out, coz I am a Chinese adolescent. Thank you very much.
What resource tells the managers of a business how effectively the other three resources are being combined and used?
The resource that tells managers how effectively the other resources are being combined and utilized is the management information system (MIS). This system collects and analyzes data from various organizational resources such as personnel, finance, and operations to provide insights into overall performance and efficiency. Managers can use MIS reports to make informed decisions and optimize resource allocation.
What are the advantage and disadvantage using pointer?
The advantage of a pointer is that it is the only way to keep track of memory allocated on the heap (free store). The disadvantage is that the programmer must remember to release an allocation before all references to that memory fall from scope, otherwise a resource leak is incurred. To make this easier, resource handles can be used instead of pointers. A resource handle behaves exactly like a pointer but when the handle falls from scope, the resource is automatically released. Pointers are also useful in other areas besides memory management, they can also be used to refer to memory that is already allocated, allowing a convenient and efficient method of iterating through a sequence of consecutive memory addresses.
What is a sentence for the word scarce?
The only other scarce migrant seen was a Hen Harrier that flew north over Weston in the afternoon.
What is the difference between constant opportunity cost and increasing opportunity cost, and how does this impact decision-making in resource allocation?
Constant opportunity cost refers to a situation where the cost of producing one more unit of a good remains the same. Increasing opportunity cost occurs when the cost of producing one more unit of a good increases as more units are produced. In decision-making for resource allocation, constant opportunity cost allows for easier decision-making as the trade-offs remain consistent. On the other hand, increasing opportunity cost makes decision-making more complex as the trade-offs become more significant with each additional unit produced. This can lead to more careful consideration and evaluation of resource allocation decisions.
