resource allocation


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resource allocation

see MARKET SYSTEM, ALLOCATION.

resource allocation

the allocation of an economy's FACTORS OF PRODUCTION between alternative uses in line with patterns of consumer demand (which in turn reflect a given size and distribution of national income). Resources are optimally allocated when the proportions in which factor inputs are combined to produce GOODS and SERVICES reflect their relative costs so as to minimize costs of production and when the output of goods and services fully reflects the distribution of consumer preferences as between those goods and services. (See PARETO OPTIMALITY.)

More specifically, resources are optimally allocated when in each market the price paid for the good or service fully reflects the lowest economic cost of supplying it. See ALLOCATIVE EFFICIENCY, PRODUCTIVE EFFICIENCY, DISTRIBUTIVE EFFICIENCY, MOBILITY, PRICE SYSTEM, THEORY OF MARKETS, PRODUCTION POSSIBILITY BOUNDARY.

References in periodicals archive ?
It addresses schemes for heterogeneous broadband wireless access networks that increase network capacity, improved spectrum efficiency, and enhanced network coverage; implementation details, issues associated with heterogeneous broadband wireless access networks, resource allocation schemes, and energy-efficient green information and communication technology solutions; and key broadband wireless access networks that meet quality of service requirements of multimedia applications in an energy-efficient manner using 5G and beyond network features.
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The section following it discusses the issues related to resource allocation in a construction project.
Merging the fundamental principles of resource allocation with the state of the art in research and application examples, this text presents a novel perspective for improving wireless system performance.
Leadership team members--such as the chief business officer, controller, and chief planning officer--make final decisions on resource allocation.
Compensation target-setting should be kept separate from the target-setting for resource allocation, and should be established based upon net change in performance, combined with performance relative to a market or peer group comparison.
The report recommends government commit itself to decentralization, involving local communities in service delivery and resource allocation, to address the needs of children and their families.
NAS or file virtualization switches address these challenges by allowing IT managers to pool storage resources and utilize intelligent storage management services, to optimize resource allocation and data management.

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