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ALLOCATION: The process of distributing resources for the production of goods and services, and of distributing goods and services for consumption by households. This process of allocation is essential to an economy's effort to address the problem of scarcity. An allocation is efficient if the resources, goods, and services are distributed according to the economy's highest valued uses.
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FOURTH RULE OF COMPETITION The fourth of seven basic rules of the economy, stating that competition among market buyers and sellers generates an efficient allocation of resources. Competition depends on the relative number of buyers and sellers. The side of the market with fewer numbers generally has relatively less competition and more market control.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"What you get by achieving your goals is not as important as what you become by achieving your goals." -- Zig Ziglar
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EU
European Union
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