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Any allocation of resources result in
- a)Wastage of resources
- b)Consumption of goods
- c)Production of goods and services
- d)Inefficient utilization
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Any allocation of resources result ina) Wastage of resourcesb) Consump...
Allocation of Resources
Allocation of resources refers to the process of distributing resources among different uses. This process plays a critical role in the economy as it determines the production of goods and services, which ultimately affects the consumption patterns of individuals.
Production of Goods and Services
When resources are allocated, they are used to produce goods and services. This is the primary objective of resource allocation. The production of goods and services is essential as it contributes to economic growth and development. The more goods and services produced, the higher the standard of living of people.
Consumption of Goods
The production of goods and services leads to the consumption of these goods. Consumption is the process of using goods and services to satisfy human wants and needs. The consumption of goods and services is an essential aspect of the economy as it drives the production of more goods and services.
Efficient Utilization of Resources
Efficient utilization of resources is critical in resource allocation. Efficient utilization of resources implies that resources are used in the most productive way possible. When resources are used efficiently, they lead to the production of more goods and services at lower costs.
Wastage of Resources
Wastage of resources occurs when resources are not used productively. This leads to a decrease in the production of goods and services. Wastage of resources is undesirable as it leads to inefficiencies in the economy.
Conclusion
In conclusion, the allocation of resources results in the production of goods and services. The production of goods and services leads to the consumption of these goods by individuals. The efficient utilization of resources is critical in resource allocation as it leads to the production of more goods and services. On the other hand, wastage of resources leads to inefficiencies in the economy.
Allocation of resources refers to the process of distributing resources among different uses. This process plays a critical role in the economy as it determines the production of goods and services, which ultimately affects the consumption patterns of individuals.
Production of Goods and Services
When resources are allocated, they are used to produce goods and services. This is the primary objective of resource allocation. The production of goods and services is essential as it contributes to economic growth and development. The more goods and services produced, the higher the standard of living of people.
Consumption of Goods
The production of goods and services leads to the consumption of these goods. Consumption is the process of using goods and services to satisfy human wants and needs. The consumption of goods and services is an essential aspect of the economy as it drives the production of more goods and services.
Efficient Utilization of Resources
Efficient utilization of resources is critical in resource allocation. Efficient utilization of resources implies that resources are used in the most productive way possible. When resources are used efficiently, they lead to the production of more goods and services at lower costs.
Wastage of Resources
Wastage of resources occurs when resources are not used productively. This leads to a decrease in the production of goods and services. Wastage of resources is undesirable as it leads to inefficiencies in the economy.
Conclusion
In conclusion, the allocation of resources results in the production of goods and services. The production of goods and services leads to the consumption of these goods by individuals. The efficient utilization of resources is critical in resource allocation as it leads to the production of more goods and services. On the other hand, wastage of resources leads to inefficiencies in the economy.
Community Answer
Any allocation of resources result ina) Wastage of resourcesb) Consump...
Any resorces which is allocated will result in the prodution of goods and services ... eg milk in allocated in certain quantity for the production of milk prorducts
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Any allocation of resources result ina) Wastage of resourcesb) Consumption of goodsc) Production of goods and servicesd) Inefficient utilizationCorrect answer is option 'C'. Can you explain this answer?
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Any allocation of resources result ina) Wastage of resourcesb) Consumption of goodsc) Production of goods and servicesd) Inefficient utilizationCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Any allocation of resources result ina) Wastage of resourcesb) Consumption of goodsc) Production of goods and servicesd) Inefficient utilizationCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Any allocation of resources result ina) Wastage of resourcesb) Consumption of goodsc) Production of goods and servicesd) Inefficient utilizationCorrect answer is option 'C'. Can you explain this answer?.
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