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allocation of resources
(redirected from Resource allocation mechanism)

    Also found in: Wikipedia, Hutchinson 0.04 sec.

allocation of resources

Apportionment of productive assets among different uses. The issue of resource allocation arises as societies seek to balance limited resources (capital, labour, land) against the various and often unlimited wants of their members. Mechanisms of resource allocation include the price system in free-market economies and government planning, either in state-run economies or in the public sectors of mixed economies. The aim is always to allocate resources in such a way as to obtain the maximum possible output from a given combination of resources.



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? Mentioned in ? References in periodicals archive
 
Because of these product characteristics, public goods will not work in our ideal resource allocation mechanism because there is no practical way to reveal a demand curve for a public good.
Applying Economic Principles to Health Care by McGowan, John E. Jr. / Emerging Infectious Diseases
In Chapter 6, Moulin shifts gears and presents a number of specific resource allocation mechanisms that operate on domains with externalities and/or public goods or bads: voting games to select levels of public goods or bads, voluntary contributions towards a public good, exploitation of a commons by means of three different mechanisms.
Cooperative Microeconomics: A Game-Theoretic Introduction by Diamantaras, Dimitrios / Southern Economic Journal
It is thus basic to but not integral with the remaining parts which focus on the nature of the resource allocation mechanisms through which the state can influence the distributive nature of the economy.
An Inquiry into Well-Being and Destitution by Field, Alfred J., Jr. / Southern Economic Journal
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