What does resource allocation mean?

Resource allocation (resource allocation) refers to the relatively scarce resources in a variety of different uses to compare the choice made. Resources are the sum of human, material and financial resources in socio-economic activities, and are the basic material conditions for socio-economic development.

At a certain stage of socio-economic development, relative to people's needs, resources always show relative scarcity, which requires people to the limited, relatively scarce resources for a reasonable allocation, in order to minimize the cost of resources, the production of the most suitable goods and services, to obtain the best benefits. The rational allocation of resources has an extremely important impact on the success or failure of a country's economic development.

Expanded:

Resource allocation principle: the allocation of social resources is realized through certain economic mechanisms. Power mechanism, the goal of resource allocation is to achieve optimal efficiency, under the condition that resource allocation is realized through different levels of economic agents, the realization of the interests of different economic agents becomes the driving force of their allocation of resources, thus forming the power mechanism of resource allocation.

Information mechanism, in order to choose a reasonable allocation of resources, the program needs to be timely and comprehensive access to relevant information as a basis for the collection, transmission, analysis and utilization of information is realized through certain channels and mechanisms, such as the transmission of information can be horizontal or vertical.? Decision-making mechanism, the decision-making power of resource allocation can be centralized or decentralized, centralized power system and decentralized power system, there are different power constraints, and thus the formation of different resource allocation decision-making mechanism.

Baidu Encyclopedia - Resource

Baidu Encyclopedia - Resource Allocation