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An example of allocating resources for a contest could be organizing a local baking competition. This would involve setting aside funds for venue rental, purchasing ingredients, hiring judges, and promoting the event through flyers and social media. Additionally, you might allocate volunteers to manage registrations, oversee the competition, and ensure a smooth experience for participants and attendees. Overall, effective resource allocation ensures the contest runs efficiently and successfully engages the community.
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What are the advantages and disadvantages of allocating resources through the public sector?
The advantage of allocating resources in the public sector is that resources can be produced based on demographic needs. The disadvantage of allocating resources is that there is room for corruption if the wrong individuals are chosen.
Is a structure for allocating scare resources?
An Economic system
What is a structure for allocating scarce resources.?
An economic plan
Advantage and disadvantage of trying to plan and predict what people will demand and allocating a country's resources on that basis?
Advantage and disadvantage of trying to plan and predict what people will demand and allocating a country's resources on that basis?
Economics is about allocating resources to produce and distribute which of the following?
Goods and services
What are the advantages and disadvantages of allocating resources through the public sector?
The advantage of allocating resources in the public sector is that resources can be produced based on demographic needs. The disadvantage of allocating resources is that there is room for corruption if the wrong individuals are chosen.
Discuss the shortcomings of the market in allocating resources?
"Discuss the shortcomings of the market in allocating resources?" how the intervention of gov will attempt to correct the maket shortcoming?
Is a structure for allocating scare resources?
An Economic system
Is a structure for allocating scarce resources?
An economic plan
What is a structure for allocating scarce resources.?
An economic plan
Advantage and disadvantage of trying to plan and predict what people will demand and allocating a country's resources on that basis?
Advantage and disadvantage of trying to plan and predict what people will demand and allocating a country's resources on that basis?
Economics is about allocating resources to produce and distribute which of the following?
Goods and services
What does Economics do with resources when it comes to the production and distribution of goods and services?
Allocating
What does economic do with resources when it comes to the production and distribution of goods and services?
Allocating
What is the role of prices in allocating resources in a market economy?
This is from P.47 . right ?
The classical model depends on the market with instead of the government allocating the resources of the nation?
price
What is the most crucial problems of economics?
allocating scarce productive resources to satisfy wants.
