Briefly explain the three basic problems of resource allocation?

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Briefly explain the three basic problems of resource allocation?

2006-11-28 13:59:51 · 2 answers · asked by mandy 1 in Social Science ➔ Economics

2 answers

There isn't a problem if the free market is allowed to allocate resources to the highest value purposes. Problems arise when the market is subverted by government intervention to artifically divert resources for political rather than economic reasons.

2006-11-28 14:05:01 · answer #1 · answered by Roadkill 6 · 0⤊ 0⤋

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2006-11-28 14:15:40 · answer #2 · answered by mse p 1 · 0⤊ 0⤋