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Allocation

Allocation Definition

 

The allocation of production and consumption is a key element of any model of economics.

The most common allocation mechanisms include centralised mechanisms as in communism and corporations, or market based mechanisms as in capitalism.

Market based mechanisms include positive and negative feedback loops to mismatches in demand and supply, but ignore a large number of parameters representing social and moral values and empirical behaviour, which most empirical sociology and psychology research show to be very resistant to quantification as monetary values.



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