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  2. Resource allocation - Wikipedia

    en.wikipedia.org/wiki/Resource_allocation

    In the context of an entire economy, resources can be allocated by various means, such as markets, or 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. [1]

  3. Price mechanism - Wikipedia

    en.wikipedia.org/wiki/Price_mechanism

    In economics, a price mechanism refers to the way in which price determines the allocation of resources and influences the quantity supplied and the quantity demanded of goods and services. The price mechanism, part of a market system , functions in various ways to match up buyers and sellers: as an incentive, a signal, and a rationing system ...

  4. Performance-based budgeting - Wikipedia

    en.wikipedia.org/wiki/Performance-based_budgeting

    With this information, it is possible to understand which activities are cost-effective in terms of achieving the desired result. As can be seen from some of the definitions used here, Performance-Based Budgeting is a way to allocate resources for achieving certain objectives, [ 4 ]

  5. Economic planning - Wikipedia

    en.wikipedia.org/wiki/Economic_planning

    Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism.

  6. Microeconomics - Wikipedia

    en.wikipedia.org/wiki/Microeconomics

    A classic example of suboptimal resource allocation is that of a public good. In such cases, economists may attempt to find policies that avoid waste, either directly by government control, indirectly by regulation that induces market participants to act in a manner consistent with optimal welfare, or by creating " missing markets " to enable ...

  7. Scheduling (production processes) - Wikipedia

    en.wikipedia.org/wiki/Scheduling_(production...

    Scheduling is used to allocate plant and machinery resources, plan human resources, plan production processes and purchase materials. It is an important tool for manufacturing and engineering, where it can have a major impact on the productivity of a process. In manufacturing, the purpose of scheduling is to keep due dates of customers and then ...

  8. Program management - Wikipedia

    en.wikipedia.org/wiki/Program_management

    Programs oversee and coordinate related projects to achieve broader organizational outcomes, whereas projects aim to deliver specific, tangible outputs within clearly defined parameters. Understanding these distinctions is essential for businesses to allocate resources effectively and align activities with strategic goals.

  9. Allocative efficiency - Wikipedia

    en.wikipedia.org/wiki/Allocative_efficiency

    Allocation efficiency occurs when there is an optimal distribution of goods and services, considering consumer's preference. When the price equals marginal cost of production, the allocation efficiency is at the output level. This is because the optimal distribution is achieved when the marginal utility of good equals the marginal cost.