This document discusses how resource allocation involves deciding what to produce, how to produce it, and who benefits. It examines different economic systems and the role of governments and markets in determining production and distribution. Key decisions include what resources to use, how those resources will be used in factories or homes, who decides the allocation, and who ultimately benefits from the allocation. Government intervention can range from full control over allocation to market-based systems where exchanges are freely made.

1. RESOURCE
ALLOCATION
DECISIONS

2. OBJECTIVE
Describe how the allocation of resources involves answering
questions of what to produce, how to produce and for
whom

3. ECONOMIC SYSTEM
Refers to the ways in which
resources are allocated in an
economy

4. DECISIONS
What resources
will be used?
Nuclear, coal, wind, solar
To use in power industry and
homes
How resources
will be used?
factories
Private use (homes)
Who decides?
Who benefits?
Government or private
businesses
For all people or few people

5. GOVERNMENT
1
Decide on what will be produced,
methods of producing, and the
prices charged.

6. NORTH KOREA

7. Levels of government
intervention

8. —MARKET ECONOMY
“Goods and services are freely
exchanged and prices are decided by
individual suppliers.”

9. GOVERNMENT DECIDES MARKET
A combination of two.
MIXED ECONOMY

10. CASE STUDY

11. ISLAND GAME
WHAT TO
PRODUCE?
HOW TO
PRODUCE?
WHO
DECIDES?
WHO
BENEFITS?

12. TEAM
NAME

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