unit 1 economic fundamentals test\nwhat does allocation mean?\nthe factors of production\nthe distribution…

unit 1 economic fundamentals test\nwhat does allocation mean?\nthe factors of production\nthe distribution of resources to meet peoples wants and needs\ndeciding what to make in your business model\nall resources are unlimited

unit 1 economic fundamentals test\nwhat does allocation mean?\nthe factors of production\nthe distribution of resources to meet peoples wants and needs\ndeciding what to make in your business model\nall resources are unlimited

Answer

Brief Explanations:

In economics, allocation refers to distributing resources to satisfy human wants and needs. The factors of production are inputs for production and not the definition of allocation. Deciding what to make in a business model is part of production - decision - making, not exactly allocation. Resources are not unlimited in reality.

Answer:

The distribution of resources to meet people's wants and needs