This document discusses the allocation of limited resources. It notes that resources must be allocated well among those who need them most, weighing how to maximize their use by deserving people. Directions are provided to match definitions with concepts about allocation, including that consumption is determined by who is willing to pay for products and how much, and that scarcity means resources are limited.

1. ALLOCATIONALLOCATION
Prepared by:
Jairus Aguila
Eariel Gwen A. Delina
Suzane Tipan
01/11/16 1

2. ALLOCATION
 It is determined by who is willing to
pay for the products and how much he
is willing to pay.
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3. IMPORTANCE OF
ALLOCATING RESOURCES
 We have unlimited demands with
limited resources. These resources
must be allocated well with those
who need most. We should weigh
how these resources can be
maximized by deserving people.
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4. Directions:
__1. Consumption is determined by who is willing to pay
the products and how much he is willing to pay.
__2. Wages are higher in high-demand areas.
__3. Scarcity is an economic phenomenon which
explains that economic resources are limited.
__4. Tradition relies heavily on inference allocation or
distribution of social output.
__5. the decision as to what resource to produce and
for whom is termed scarcity.
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5. __6. allocation is the designation of a
resource to a specific use or whenever
possible to some alternative uses.
__7. the utilization of limited resources
also limits the quantity of goods that
can be produced.
__8. a fundamental problem of
economics that of allocation.
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6.  __9. Land, labor, capital and
entrepreneurship are usually channeled
into the most profitable production
areas.
 __10. Economic efficiency is necessary
in order to ensure the optimum
utilization of scarce economic
resources.
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7.  __11. Ability to produce differs because
of training, education and work habits.
 __12. Poverty is one such problem that
our society has to live with each day.
 __13. Scarcity would also mean
efficient management of resources.
 __14. Consumption relies heavily on
inference allocation.
 __15.The pattern of income distribution
differs in different countries.
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8. THE END!
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