What is meant by the problem of allocation of resources
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Allocation of resources :- They are the mechanics of investment; where one applies one's goods (for greatest possible future gain); how one disposes of one's resources (for greatest possible effect). Often used as a term in conjunction with economics.
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Allocation of resources, apportionment of productive assets among different uses. Resource allocation arises as an issue because the resources of a society are in limited supply, whereas human wants are usually unlimited, and because any given resource can have many alternative uses.
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