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Explain the 'allocation of resources' objective …

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Explain the 'allocation of resources' objective of government of budget

Posted by Hardeep Dosanjh 5 years, 9 months ago

CBSE > Class 12 > Economics

3 answers

Lovely Dhawan 5 years, 8 months ago

In the market economies resources are allocated to the production of such goods n services which the consumers eish to buy.goods commanding higher price attracts higher allocation of resources but this process of resource allocation allows maximisation of profit but it fails to achieve the maximization of social welfare

Gursimran Saini 5 years, 8 months ago

Allocation of resources - The govt should allocate resources via market mechanism.govt should put or levy higher tax on harmful products such as liquor, cigaratte, drugs etc.and provide incentives and subsidies to useful masses such as education,health etc. Govt should also focus on projects or products which were ignored by private sector

Abrar Qureshi 5 years, 9 months ago

In market economy, good commanding higher price attract higher allocation of resources. This process of resources allocation allow the maximisation of profit but it fail to achieve maximisation of social welfare.

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