1.3 Allocation of Resources
Completion requirements
The allocation of land, labour, and capital resources is critical in the
study of economics. Governments and businesses both have roles in
resource allocation.
They are responsible for improving the allocation and subsequent use of resources. They must put resources to work where they are most productive, and they must increase the use of resources that are not fully utilized.
They are responsible for improving the allocation and subsequent use of resources. They must put resources to work where they are most productive, and they must increase the use of resources that are not fully utilized.
