How are resources allocated?

In economics, resource allocation is the assignment of available resources to various uses. In the context of an entire economy, resources can be allocated by various means, such as markets, or planning.

Explanation:

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the principles and empirical processes of discovery and demonstration considered characteristic of or necessary for scientific investigation, generally involving the observation of phenomena, the formulation of a hypothesis concerning the phenomena, experimentation to test the hypothesis, and development of a conclusion that confirms, rejects, or modifies the hypothesis.