Resource allocation is the distribution of resources – usually financial - among competing groups of people or programs. When we talk about allocation of funds for healthcare, we need to consider three distinct levels of decision-making. Level 1: Allocating resources to healthcare versus other social needs.What does allocation of scarce resources mean?
Scarce resource utilization (or allocation) decision is a judgment regarding the best use of scarce resources so as to maximize the total net income of a business. Scarcity of different resources puts constraints on the amount of product that can be produced using those resources.What is the allocation of scarce resources?
The “allocation of scarce resources” is the determination of how to equitably and fairly use scarce medical resources available in a contingency or crisis care environment. “Scarce resources” is defined as medical care resources that are likely to be scarce in a crisis care environment.What is the outcome of the efficient allocation of resources?
Efficient Allocation of Resources. An efficient allocation of resources is: That combination of inputs, outputs and distribution of inputs, outputs such that any change in the economy can make someone better off (as measured by indifference curve map) only by making someone worse off (pareto efficiency).