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Economic analysts have argued that the economy of the Soviet Union actually represented an administrative or command economy as opposed to a planned economy because planning did not play an operational role in the allocation of resources among productive units in the economy since in actuality the main allocation mechanism was a system of ...
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]
A decentralized-planned economy, occasionally called horizontally planned economy due to its horizontalism, is a type of planned economy in which the investment and allocation of consumer and capital goods is explicated accordingly to an economy-wide plan built and operatively coordinated through a distributed network of disparate economic ...
The problem of allocation of resources arises due to the scarcity of resources, and refers to the question of which wants should be satisfied and which should be left unsatisfied. In other words, what to produce and how much to produce. More production of a good implies more resources required for the production of that good, and resources are ...
Encouragement of black-market activity because of fixed resource allocation. Low quality of Soviet goods induced by shielding them from world markets. The neglect of consumer need because of the challenge in measuring good quality. The tendency of enterprise-level Soviet managers to understate productive capacity in fear of the ratchet effect ...
In a pure socialist planned economy that involves different processes of resource allocation, production and means of quantifying value, the use of money would be replaced with a different measure of value and accounting tool that would embody more accurate information about an object or resource.
Articles relating to economic systems, systems of production, resource allocation and distribution of goods and services within a society or a given geographic area. They include the combination of the various institutions, agencies, entities, decision-making processes and patterns of consumption that comprise the economic structure of a given community.
In a free market economy, all the resources are allocated by the private sector (individuals, households, and groups of individuals); in a planned economy, all the resources are owned by the public sector (local and central government); and, in a mixed economy, some resources are owned by both sectors, private and public. In reality the first ...