Economy, asked by csang158, 1 year ago

How are resources allocated in a planned economic system 100 to 150 word

Answers

Answered by Geekydude121
21

Resource allocation is generally the process of distributing different types of goods and resources  to produce various goods and services.

There are resource allocation in various sectors:-

  • Resource allocation can be in free market economy-According to the demand and supply of the market forces the resources are allocated accordingly.
  • Resource allocation can be in command economy-The resources are allocated by the government.
  • In mixed allocation both public and private sector play an important role.
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