Market, under ideal conditions, ensure an efficient allocation of scarce resources, but in practice conditions are usually not ideal, critically analyze the statement with examples.
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answered 4 months ago
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The statemnet means that when the condition is suitable then the market is focused on the right and minimal quanitity of resources ( and these resources are very limited) to invest and this would complete the task, but in actual the practice is not muct, because usually when the company is going to launch a new product then the cost of resources invested are much then the result because usually the employees are not as much skilled as they don't know where to spend rightly and that is just because of lack of planning and control.
answered 4 months ago
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