Home
Search results “To allocate scarce resources”
Allocating scarce resources
 
01:51
Lopez Period 1- allocating scarce resources and why price is the best method. Jennifer Gherasim October of 2014 Created using PowToon -- Free sign up at http://www.powtoon.com/ . Make your own animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 4021 XNerdyloveX
What is RESOURCE ALLOCATION? What does RESOURCE ALLOCATION mean? RESOURCE ALLOCATION meaning
 
03:02
What is RESOURCE ALLOCATION? What does RESOURCE ALLOCATION mean? RESOURCE ALLOCATION meaning - RESOURCE ALLOCATION definition - RESOURCE ALLOCATION explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. 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 central planning. In project management, resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time. In economics, the area of public finance deals with three broad areas: macroeconomic stabilization, the distribution of income and wealth, and the allocation of resources. Much of the study of the allocation of resources is devoted to finding the conditions under which particular mechanisms of resource allocation lead to Pareto efficient outcomes, in which no party's situation can be improved without hurting that of another party. In strategic planning, resource allocation is a plan for using available resources, for example human resources, especially in the near term, to achieve goals for the future. It is the process of allocating scarce resources among the various projects or business units. There are a number of approaches to solving resource allocation problems e.g. resources can be allocated using a manual approach, an algorithmic approach (see below), or a combination of both. There may be contingency mechanisms such as a priority ranking of items excluded from the plan, showing which items to fund if more resources should become available and a priority ranking of some items included in the plan, showing which items should be sacrificed if total funding must be reduced. Resource allocation may be decided by using computer programs applied to a specific domain to automatically and dynamically distribute resources to applicants. This is especially common in electronic devices dedicated to routing and communication. For example, channel allocation in wireless communication may be decided by a base transceiver station using an appropriate algorithm. One class of resource whereby applicants bid for the best resource(s) according to their balance of "money", as in an online auction business model (see also auction theory). A study by Emmanuel Yarteboi Annan shows that this is highly important in the resource allocation sector. In one paper on CPU time slice allocation an auction algorithm is compared to proportional share scheduling..
Views: 12751 The Audiopedia
How Economies Decide How to allocate their Resources?
 
03:45
The three economic questions by Ryan And Sadegh
Views: 12120 MEFonomics
How to allocate scarce resources
 
01:41
Mr. Lopez class project
Views: 53 Adam Galbraith
SSEF1c: Strategies for Allocating Scarce Resources
 
03:45
List a variety of strategies for allocating scarce resources.
Views: 963 Jana Peacock
Markets and the Allocation of Resource
 
08:59
See more videos at: http://talkboard.com.au/ In this video, we look at markets and how markets help economies to allocate resources efficiently
Views: 5639 talkboard.com.au
Resource allocation in health services (Professor Charles Normand)
 
19:21
This presentation is from the National Disability Authority's annual conference 2012, "Achieving inclusive communities": http://tinyurl.com/NdaConference2012 We will caption this video as soon as possible. If you have any accessibility issues with this video, please contact us at [email protected]
What is SCARCITY? What does SCARCITY mean? SCARCITY meaning - SCARCITY definition & pronunciation
 
02:30
What is SCARCITY? What does SCARCITY mean? SCARCITY meaning - SCARCITY pronunciation - SCARCITY definition - SCARCITY explanation - How to pronounce SCARCITY? Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Scarcity (also called paucity) is the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs. The notion of scarcity is that there is never enough (of something) to satisfy all conceivable human wants, even at advanced states of human technology. Scarcity involves making a sacrifice—giving something up, or making a tradeoff—in order to obtain more of the scarce resource that is wanted. The condition of scarcity in the real world necessitates competition for scarce resources, and competition occurs "when people strive to meet the criteria that are being used to determine who gets what." The price system, or market prices, are one way to allocate scarce resources. "If a society coordinates economic plans on the basis of willingness to pay money, members of that society will to make money":p. 105 If other criteria are used, we would expect to see competition in terms of those other criteria. For example, although air is more important to us than gold, it is less scarce simply because the production cost of air is zero. Gold on the other hand has a high production cost. It has to be found and processed, both of which require a great deal of resources. Additionally, scarcity implies that not all of society's goals can be pursued at the same time; trade-offs are made of one goal against others. In an influential 1932 essay, Lionel Robbins defined economics as "the science which studies human behavior as a relationship between ends and scarce means which have alternative uses." In cases of monopoly or monopsony an artificial scarcity can be created. Scarcity can also occur through stockpiling, either as an attempt to corner the market or for other reasons. Temporary scarcity can be caused by (and cause) panic buying.
Views: 9403 The Audiopedia
Y1/IB 1) The Economic Problem (Scarcity & Choice)
 
04:47
Y1/IB 1) The Economic Problem (Scarcity & Choice). Video covering what Economics is all about, The Basic Economic Problem and How to Allocate Scarce Resources with crucial choices Instagram @econplusdal Twitter: https://twitter.com/econplusdal Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
Views: 43101 EconplusDal
Medical Ethics 6 - Resource Allocation QALY & Needs Based Model
 
10:06
Medical Ethics lecture on Resource Allocation Covers: 1. QALY - Quality Adjusted Life Years 2. QALY - Cost effectiveness 3. Arguments for and against QALY 4. Ageism & QALY 5. Needs Based Model 6. Arguments for and against Needs based model Medical Lectures and OSCE Videos produced by GMC registered/Certified Doctors. JHP Medical website provides access to online questions, videos and lecture notes. Lectures cover definitions, aetiology, symptoms, clinical features, management, prognosis and complications of a wide variety of medical topics. Also covered are medical statistics, ethics and law. Authors: 1. Dr. A. Hart-Pinto MBChB (Hons) BSc (Hons) 2. Dr. Najeebah Jaunbocus MBChB MRCGP Lectures are recommended for the following audience: Medical students, nursing students, physician assistants, nursing consultants, nursing staff, physiotherapists, occupational therapists, paramedics, first responders, EMT. Lectures cover high yield topics for the following: Medical Ethics lecture on Consent Covers: 1. What is consent? 2. Why is Consent inportant 3. Valid consent 4. Informed Consent 5. Voluntary consent 6. Special circumstances of consent 7. Competent consent 8. Mental health and consent 9. Child/paediatric consent Medical Lectures and OSCE Videos produced by GMC registered/Certified Doctors. JHP Medical website provides access to online questions, videos and lecture notes. Lectures cover definitions, aetiology, symptoms, clinical features, management, prognosis and complications of a wide variety of medical topics. Also covered are medical statistics, ethics and law. Authors: 1. Dr. A. Hart-Pinto MBChB (Hons) BSc (Hons) 2. Dr. Najeebah Jaunbocus MBChB MRCGP Lectures are recommended for the following audience: Medical students, nursing students, physician assistants, nursing consultants, nursing staff, physiotherapists, occupational therapists, paramedics, first responders, EMT. Lectures cover high yield topics for the following: Medical Finals, Nursing examinations, USMLE, MRCS, MRCP, MRCGP, MCAT, Medical School Interviews, MCAT, PLAB, PANCE, NCLEX, NAPLEX, MCCEE, NDBE, RN, RT, MD, DO, PA, NP.
Views: 1371 JHP Medical UK
Allocation of Scarce Resources
 
02:50
Richard Demme outlines some resources that were and still are scarce in the medical field.
Views: 686 schwertieman
Lecture 7A2: Allocating Resources to the Project
 
10:48
Expediting a Project Resource Loading Resource Leveling Allocating Scarce Resources to Projects -Priority rules
Allocate a scarce resource
 
01:39
via YouTube Capture
Views: 72 Josh Korsten
The challenges of allocating scarce resources | Wilson Parasiuk | Walrus Talks
 
07:16
From University of Victoria Presents The Walrus Talks Quality of Life. Recorded June 2, 2016 in Vancouver. Wilson Parasiuk is a veteran social entrepreneur with experience in government policy, planning, and implementation. He has developed public-private partnerships to export Canada’s health care, housing, civics, and energy expertise. Wilson held deputy minister and minister positions in Manitoba before moving to the Vancouver area in 1989, where he is currently based.
Views: 140 The Walrus
Allocating “scarce resources"
 
01:47
Robert Rosenkranz on philanthropy: Allocating “scarce resources" The Rosenkranz Foundation http://rosenkranzfdn.org/ About Robert Rosenkranz: http://rosenkranzfdn.org/about-us/robert-rosenkranz/ #RobertRosenkranz #philanthropy #RosenkranzFoundation #IQ2US #IntelligenceSquaredUS #IntelligenceSquared
Hardest Decisions-Who Allocates Scarce Healthcare Resources part 3
 
13:30
During and after disasters, decision makers must prioritize the needs of different patients and communities. Such prioritization, made when vital medical resources are scarce, is the most heart-wrenching and difficult decisions anyone is likely to face. Thus, it is desirable in advance of a catastrophe, to identify leaders at all levels that can make these difficult resource-allocation decisions, and to educate them to navigate the technical, moral, and emotional terrain. So far, that training has been unavailable. Using an ARRO grant, three educational videos were produced to address this desperately needed education niche. The content of the three videos (each about 15-minutes long) is: 1. When and why do we need to ration healthcare resources? And what is the ethical justification? 2. How do we plan for and initiate healthcare resource rationing? 3. Who allocates the scarce resources? How do Risk Communication techniques help this process? These three videos discuss the ethical reasoning and the medical and technical factors relevant to the allocation of scarce resources during and after disasters, as well as the emotional ramifications of such decisions. They also introduce risk-communication strategies that help maintain a healthcare, public safety, and administrative workforce, that help to maximize community services—and that help decrease the need for dire resource allocation decisions.
Views: 934 Dr. Kenneth Iserson
Scarcity, Opportunity Cost and the PPC
 
14:12
The basic economic problem is one rooted in both the natural world and in human greed. We live in a world of limited resources, but we seem to have unlimited wants. This results in scarcity, which gives rise to the very field of Economics, which deals with how to allocate scarce resources between the competing wants and needs of society. This lesson will introduce these basic economic concepts, along with the first (and perhaps the most useful) graph an Economics student will learn, the Production Possibilities Curve. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 189781 Jason Welker
Ethics For Lunch:  Allocation of Scarce Medical Resources
 
01:18:29
Johns Hopkins doctor Lee Daugherty Biddison, Vice Chair for Clinical Affairs, leads a discussion of recent research with members of the Baltimore community in deliberative democracy exercises to determine values in deciding who should have priority access to ventilators in the event of a public health emergency.
Views: 153 Berman Institute
Lecture 7A1: Allocating Resources to the Project
 
54:18
Expediting a Project Resource Loading Resource Leveling Allocating Scarce Resources to Projects -Priority rules
Hardest Decisions-Resource Allocation-Ethical Justification  part 1
 
10:33
During and after disasters, decision makers must prioritize the needs of different patients and communities. Such prioritization, made when vital medical resources are scarce, is the most heart-wrenching and difficult decisions anyone is likely to face. Thus, it is desirable in advance of a catastrophe, to identify leaders at all levels that can make these difficult resource-allocation decisions, and to educate them to navigate the technical, moral, and emotional terrain. So far, that training has been unavailable. Using an ARRO grant, three educational videos were produced to address this desperately needed education niche. The content of the three videos (each about 15-minutes long) is: 1. When and why do we need to ration healthcare resources? And what is the ethical justification? 2. How do we plan for and initiate healthcare resource rationing? 3. Who allocates the scarce resources? How do Risk Communication techniques help this process? These three videos discuss the ethical reasoning and the medical and technical factors relevant to the allocation of scarce resources during and after disasters, as well as the emotional ramifications of such decisions. They also introduce risk-communication strategies that help maintain a healthcare, public safety, and administrative workforce, that help to maximize community services—and that help decrease the need for dire resource allocation decisions.
Views: 3431 Dr. Kenneth Iserson
Resource Allocation
 
04:14
8 ways the government can allocate scarce resources
Views: 2772 Krista Homakie
How to best allocate scarce resources: NGOs & charities ComMetrics University Radio Show 06
 
04:57
SOCIAL MEDIA Webinar video & slides http://university.commetrics.com/articles/2011-webinar-nr-6-social-media-roi/#comments 2 TIPS FOR BETTER RESOURCE ALLOCATION, NAMELY: 1. What is the best social media channel for me and my organization (e.g., Twitter or Facebook)? 2. What is the best way to get the biggest bang for my buck? How to put it into practice.
Views: 325 ComMetrics
What is Market Failure?
 
04:49
Market failure occurs when freely functioning markets fail to allocate scarce resources in a way that optimises social welfare. This short introductory topic video explores some of the main examples of market failure including from the housing and labour markets. A Level Economics Revision Flashcards These superb packs of revision flashcards contain everything you need to cover for AQA & Edexcel A Level Economics A 20% discount is automatically applied if you order 4 or more flashcard packs in the same order! https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards CONNECT WITH TUTOR2U ECONOMICS Web: https://www.tutor2u.net/economics Twitter: tutor2u Economics: https://twitter.com/tutor2uEcon Twitter: Geoff Riley https://twitter.com/tutor2uGeoff Facebook: https://www.facebook.com/tutor2u Instagram: https://www.instagram.com/tutor2uecon/ MORE HELP WITH A LEVEL & IB ECONOMICS Online webinars: https://www.tutor2u.net/economics/events/students/online Revision Workshops: https://www.tutor2u.net/economics/events/students/face-to-face Study Notes on every Topic: https://www.tutor2u.net/economics/reference/study-notes Key topics: https://www.tutor2u.net/economics/topics - - - - - - - - - MORE ABOUT TUTOR2U ECONOMICS: Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more: https://www.tutor2u.net/economics A Level Economics Revision Flashcards: https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards A Level Economics Example Top Grade Essays: https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics
Views: 50210 tutor2u
Y1/IB 7) Price Mechanism - The 4 Functions
 
07:16
Y1/IB 7) 4 Functions of the Price Mechanism. Video covering the 4 crucial functions of the price mechanism. So important to understand how markets work in allocating scarce resources through signals, incentives, rationing functions http://www.econplusdal.com Instagram: https://www.instagram.com/econplusdal Twitter: https://twitter.com/econplusdal Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
Views: 18606 EconplusDal
Functions of the Price Mechanism
 
06:20
This is a short revision video on some of the key functions of the price mechanism including the signalling and rationing function in the allocation of scarce resources among competing uses. A Level Economics Revision Flashcards These superb packs of revision flashcards contain everything you need to cover for AQA & Edexcel A Level Economics A 20% discount is automatically applied if you order 4 or more flashcard packs in the same order! https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards CONNECT WITH TUTOR2U ECONOMICS Web: https://www.tutor2u.net/economics Twitter: tutor2u Economics: https://twitter.com/tutor2uEcon Twitter: Geoff Riley https://twitter.com/tutor2uGeoff Facebook: https://www.facebook.com/tutor2u Instagram: https://www.instagram.com/tutor2uecon/ MORE HELP WITH A LEVEL & IB ECONOMICS Online webinars: https://www.tutor2u.net/economics/events/students/online Revision Workshops: https://www.tutor2u.net/economics/events/students/face-to-face Study Notes on every Topic: https://www.tutor2u.net/economics/reference/study-notes Key topics: https://www.tutor2u.net/economics/topics - - - - - - - - - MORE ABOUT TUTOR2U ECONOMICS: Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more: https://www.tutor2u.net/economics A Level Economics Revision Flashcards: https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards A Level Economics Example Top Grade Essays: https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics
Views: 33553 tutor2u
What Is A Scarce Resource In Economics?
 
00:47
Scarcity refers to the basic economic problem, gap between limited that is, scarce resources and theoretically limitless wants. Economists and scarcity foundation for economic education scarce means with alternative uses robbins' definition of why resources are sometimes unemployed world forum reports. Scarce resources, choices and economic systems tutor2u economicstutor2u economics. The allocation of scarce resources among competing ends applies aug 29, 2015 scarcity, or limited resources, is one the most basic economic problems we face. Scarcity does not mean we need to define scarce resource? Economic term resource definition. Department of economics. Scarcity, high school economics topics. Collections behavioural economics scarcity bias scarce resources, choices and economic systems join 1000s of fellow teachers students all getting the tutor2u team's latest resources support delivered fresh in their inbox every jun 1, 2008 can contribute to this discussion by providing its perspective on words such as which are often contested feb 9, 2012 robbins' definition confines study human behavior, time is quintessentially resource, a view robbins oct 2013 but be unused when markets fail allocate them efficiently. The fundamental economic behavioural economics a level revision videos. Scarce resources & economics flashcards competition for scarce. To find out what is scarce resource, see this explanation students need to understand the problem of unlimited wants and finite resources that gives rise scarcity inevitable choices. Ideally, the resources are allocated to is economics all about scarcity? , by arnold kling. Scarcity wikipediascarce resources amosweb is economics encyclonomic web scarcity wikipediaeconomics scarce allocation what resource as a study of the resourceslibrary and liberty. Asp url? Q webcache. It states that society has insufficient productive resources to fulfill all human wants and needs these can be come from the land, labor or capital. Googleusercontent search. We have infinite desires and wants only some limited amount of resources to the domain economics is study processes by which scarce are allocated satisfy unlimited. Such inefficiency means the economy is producing less than it could global trendsresource scarcity was most controversial topic for respondents when considering which world issues are currently start studying scarce resources & economics. Library of economics and what is the basic economic problem scarcity? Video & lesson scarce resource, definition at glossary. We run into scarcity because while resources are limited, the economic definition of a scarce resource is simple one any with finite supply. Scarce, or economic, resources are also called factors of production and generally classified scarcity (also paucity) is the fundamental economic problem having seemingly unlimited human wants in a world limited. Scarcity wikipedia scarcity investopedia terms s. Learn vocabulary, terms, and more with flashca
Views: 316 Question Me
Scarcity of Resources
 
03:46
-- Created using PowToon -- Free sign up at http://www.powtoon.com/ . Make your own animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 2740 rica guinto
Ch. 9 - Resource Allocation Decisions
 
08:16
Description
Views: 972 UNFtannertown
Allocation of Resources Examples
 
04:51
Microeconomics Concept - Allocation of Resources Examples of three different ways to allocate resources in our economy
What Is A Scarce Resource In Economics?
 
00:46
Scarcity refers to the basic economic problem, gap between limited that is, scarce resources and theoretically limitless wants. Economists and scarcity foundation for economic education scarce means with alternative uses robbins' definition of why resources are sometimes unemployed world forum reports. Scarce resources, choices and economic systems tutor2u economicstutor2u economics. The allocation of scarce resources among competing ends applies aug 29, 2015 scarcity, or limited resources, is one the most basic economic problems we face. Scarcity does not mean we need to define scarce resource? Economic term resource definition. Department of economics. Scarcity, high school economics topics. Collections behavioural economics scarcity bias scarce resources, choices and economic systems join 1000s of fellow teachers students all getting the tutor2u team's latest resources support delivered fresh in their inbox every jun 1, 2008 can contribute to this discussion by providing its perspective on words such as which are often contested feb 9, 2012 robbins' definition confines study human behavior, time is quintessentially resource, a view robbins oct 2013 but be unused when markets fail allocate them efficiently. The fundamental economic behavioural economics a level revision videos. Scarce resources & economics flashcards competition for scarce. To find out what is scarce resource, see this explanation students need to understand the problem of unlimited wants and finite resources that gives rise scarcity inevitable choices. Ideally, the resources are allocated to is economics all about scarcity? , by arnold kling. Scarcity wikipediascarce resources amosweb is economics encyclonomic web scarcity wikipediaeconomics scarce allocation what resource as a study of the resourceslibrary and liberty. Asp url? Q webcache. It states that society has insufficient productive resources to fulfill all human wants and needs these can be come from the land, labor or capital. Googleusercontent search. We have infinite desires and wants only some limited amount of resources to the domain economics is study processes by which scarce are allocated satisfy unlimited. Such inefficiency means the economy is producing less than it could global trendsresource scarcity was most controversial topic for respondents when considering which world issues are currently start studying scarce resources & economics. Library of economics and what is the basic economic problem scarcity? Video & lesson scarce resource, definition at glossary. We run into scarcity because while resources are limited, the economic definition of a scarce resource is simple one any with finite supply. Scarce, or economic, resources are also called factors of production and generally classified scarcity (also paucity) is the fundamental economic problem having seemingly unlimited human wants in a world limited. Scarcity wikipedia scarcity investopedia terms s. Learn vocabulary, terms, and more with flashca
Views: 29 Caren Raatz Tipz
Allocation of resources Meaning
 
00:32
Video shows what allocation of resources means. the mechanics of investment; where one applies one's goods (for greatest possible future gain); how one disposes of one's resources (for greatest possible effect). Often used as a term in conjunction with economics.. Allocation of resources Meaning. How to pronounce, definition audio dictionary. How to say allocation of resources. Powered by MaryTTS, Wiktionary
Views: 2704 SDictionary
Three Methods of Resource Allocation : Economics Homework Help by Classof1.com
 
01:07
Visit : http://classof1.com/homework-help/economics-homework-help/ for customized academic assistance in Economics. Three Methods of Resource Allocation: In a traditional economy, resources are allocated according to the long-lived practices of the past. Tradition was the dominant method of resource allocation for most of human history and remains strong in many tribal societies and small villages in parts of Africa, South America, Asia, and the Pacific.
Views: 5374 classof1homeworkhelp
The Most Difficult Healthcare Decisions: Part 3 (A)
 
06:38
This is Part A of Who Allocates Scarce Healthcare Resources. Please watch Part B for the complete video.
Views: 2145 kvi4930
Scarcity
 
02:37
Economics is the study of how our scarce resources are allocated. How do we make choices on the allocation of the resources we have? What do companies produce? How do we produce a good or service? How is the good or service distributed? People are willing to pay large sums for useless items such as a cracked baseball bat, just because it was used by a very popular professional. Why? Because these players of that talent are rare and we value items they used. Credits: This video features the song "Slow Burn" by Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 http://creativecommons.org/licenses/by/3.0/
Topic 1.4 - Production Possibilities
 
12:31
Welcome to You Will Love Economics! This video lecture analyzes production possibilities and how scarcity forces economies to make decisions on how to allocate their scarce resources. Together, we will practice calculating the opportunity cost of production, and then investigate how countries weigh costs and benefits when allocating resources to meet the needs of their people. It is the perfect way to build your understanding of the opportunity costs of producing goods and services! Enjoy!
Economic Indicators: Price Mechanism
 
05:33
WordPress: https://thescotandscotland.wordpress.com/2015/06/21/prices-pricing-and-the-market/ When it comes to prices people confuse prices as a barrier for people getting what they want, rather what prices are, are economic indicators, they give signals to the market so that we are able to allocate scarce resources to the market with economic efficiency. The price mechanism is the single most important driver behind the economy, it is what enables us to trade in the global economy and are able to translate the scarce resources into commodity prices for the market. This is all driven by what we call supply and demand. This is what the market price definition is, prices set by consumers demand, what people are willing to pay for commodities. What we must understand about the price system when speaking about economic calculation, we must understand the importance of profit & loss, so what is profit and loss, why is this important? In this video I set out to explain the valuable information profit & loss gives us to be able to allocate scarce resources efficiently, which also gives the market the information for market pricing; what consumers want and what they don't want; what investors should invest more in and what not to invest in; as well as where to place scarce resources and where not to. Without the price mechanism (price system) there is no economic efficiency for prices thus the inefficiency of Socialism when faced with the economic calculation problem. In order to promote economic growth with economic development we need prices to better improve our living standards through increased productivity and only prices can allow us to achieve that whilst using the fewest scarce resources as possible. Poor economic policy through price fixing via governmental control and ownership is what causes problems.
High unemployment and competition for scarce resources
 
02:25
High unemployment and competition for scarce resources contribute to the frustration and anger directed at immigrants. This is according to speakers at the launch of a project assessing the economic importance of labour immigration in Pretoria. For more News visit: http://www.sabc.co.za/news Follow us on Twitter: https://twitter.com/SABCNewsOnline?lang=en Like us on Facebook: https://www.facebook.com/SABCNewsOnline
Views: 63 SABC Digital News
Problem of Allocation of resources - Economics
 
00:54
What is problem of allocation of resources in ecomomics?
Views: 63 My Learnings
allocate resource
 
01:12
Views: 9 harmonysoft01
Scarcity, Opportunity Cost and the PPC - Jason Welker
 
14:12
Published on 13 Aug 2012 The basic economic problem is one rooted in both the natural world and in human greed. We live in a world of limited resources, but we seem to have unlimited wants. This results in scarcity, which gives rise to the very field of Economics, which deals with how to allocate scarce resources between the competing wants and needs of society. This lesson will introduce these basic economic concepts, along with the first (and perhaps the most useful) graph an Economics student will learn, the Production Possibilities Curve.
Views: 757 FLT Warwick
Replicon - How to allocate resources as a Resource Manager
 
05:59
Find how as a Resource Manager you can allocate resources in Replicon
Views: 48 Replicon