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In economics, the assignment of available resources to various uses is termed as resource allocation. In the situation of a complete economy, resources can be allocated by various means, such central planning or markets. There are three broad areas that public finance deals with
1) Macroeconomic stabilization,
2) The distribution of income and wealth,
3) The allocation of resources.
As per project management resource allocation or resource management is the preparation of actions and the resources required by those activities while considering two factors resource availability and the project time.
In strategic planning, plan for using available resources is resource allocation, for instance, human resources, particularly in the near term, to accomplish goals for the future. It is the process of allocating limited resources among the various projects or business units.
Different types of approaches can be used to solve resource allocation problems e.g. resources can be allocated using a manual or algorithmic approach or a combination of both.
As you can understand by now that resource allocation is not an easy topic but you don’t have to worry because we at resource allocation assignment help we simplify and give you a deep insight into the subject.
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