Allocation of country resources to the price mechanism, Business Management

Assignment Help:

What are the benefits of leaving the allocation of country resources to the price mechanism?

Ans) The main conditions needed are:

1. Either a finite number of agents or goods.

2. No externalities - That is, the consumption of one person should not harm or advantage anyone else.

3. No matter how much a one is consuming, they must be capable to be made slightly happier by consuming a bit more of something.

 


Related Discussions:- Allocation of country resources to the price mechanism

STRATEGIC HUMAN RESOURCE MANAGEMENT, Explain the personal benefits of learn...

Explain the personal benefits of learning the unit of STRATEGIC HUMAN RESOURCE MANAGEMENT to BBM student

Bussiness goals of e-care consultant medical network design, E-Care consult...

E-Care consultant Medical Network design business goals   We have gone to meet with the technical directors, to have a clear knowledge on their reasons of why they are inte

Benefits of e-business to organisations, QUESTION (a) With the help of ...

QUESTION (a) With the help of appropriate examples, describe Porter's five forces model for e-Business companies. (b) Explain briefly two measures organisations may adopt to

Outline four common types of communication barriers, QUESTION 1 (a) Lis...

QUESTION 1 (a) List four characteristics of effective "Business Messages." Explain briefly each characteristic with examples (b) Comment on the five benefits of effective co

Mbf, different btewwn cetral and commercal bank

different btewwn cetral and commercal bank

Explain the major aspects of the hawthorne experiment, Question 1: ‘Man...

Question 1: ‘Management by Objectives (MBO) can be used by managers to plan, control, coordinate as well as motivate'. a. Show the main characteristics of an MBO programme.

Mgt415, Ask quewhat is generic organization stion #Minimum 100 words accept...

Ask quewhat is generic organization stion #Minimum 100 words accepted#

Just in time manugacturing, JIT  is a Japanese production  management  phil...

JIT  is a Japanese production  management  philosophy which  has been applied in practice since the  early  1970s  in many  Japanese manufacturing organizations. There  are strong

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd