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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.
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Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profits?
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
What is the study of the allocation of resources?
ECONOMICS is the study of the allocation of SCARCE resources.
What are the causes of inequitable allocation of 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?
Economics is about the allocation of resources for the production and distribution of goods and ___________.
How does market and government differ in allocation of resources?
the difference in market and government occurs in the allocation of resources and labor division which determines the prices
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profits?
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
What is the study of the allocation of resources?
ECONOMICS is the study of the allocation of SCARCE resources.
What are the causes of inequitable allocation of 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?
Economics is about the allocation of resources for the production and distribution of goods and ___________.
Difference between resource allocation and resource utilization?
Resource allocation refers to the process of assigning resources while resource control refers to managing and regulating resources usage to ensure adherence to allocation plans.
How does market and government differ in allocation of resources?
the difference in market and government occurs in the allocation of resources and labor division which determines the prices
Why is human resources important to the development of industry?
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.
What is Hierarchical Location-Allocation modelling?
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.
Economics is about the production of goods and services which requires the allocation of what?
Resources
When is the allocation of resources in an economy considered to be inefficient?
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.
What does resource allocation mean?
'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.
What Economics is about the production of goods and services which require the allocation of what?
Resources
