How are resources allocated?

Resources Allocation includes managing tangible assets such as hardware to make the best use of softer assets such as human capital . Resources Allocation involves balancing competing needs and priorities and determining the most effective course of action in order to maximize the effective use of limited resources and gain the best return on investment.

Explanation:

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In a free market economy, resources are allocated through the interaction of free and self-directed market forces. This means that what to produce is determined consumers, how to produce is determined by producers, and who gets the products depends upon the purchasing power of consumers.

Explanation:

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