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Allocative: meaning, definitions and examples

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allocative

 

[ หˆรฆl ษ™หŒkeษช tษชv ]

Adjective
Context #1 | Adjective

economics theory

Allocative refers to the distribution of resources or goods in a way that maximizes their utility or efficiency. It occurs when resources are allocated in a manner that produces the most beneficial outcome for society. This concept is often discussed in economic terms, particularly in relation to market efficiency and welfare maximization.

Synonyms

allocative efficiency, distributive, resource allocation

Examples of usage

  • The allocative efficiency of the market ensures that resources are utilized where they are most valued.
  • In an allocative framework, every product should be priced according to its marginal cost.
  • Government interventions may disrupt the allocative processes of a free market.
  • Allocative decisions in a firm often determine its overall profitability.

Translations

Translations of the word "allocative" in other languages:

๐Ÿ‡ต๐Ÿ‡น alocativo

๐Ÿ‡ฎ๐Ÿ‡ณ เค†เคตเค‚เคŸเคจเค•เคพเคฐเฅ€

๐Ÿ‡ฉ๐Ÿ‡ช allokativ

๐Ÿ‡ฎ๐Ÿ‡ฉ alokatif

๐Ÿ‡บ๐Ÿ‡ฆ ะฐะปะพะบะฐั†ั–ะนะฝะธะน

๐Ÿ‡ต๐Ÿ‡ฑ alokacyjny

๐Ÿ‡ฏ๐Ÿ‡ต ้…ๅˆ†ใฎ

๐Ÿ‡ซ๐Ÿ‡ท allocatif

๐Ÿ‡ช๐Ÿ‡ธ alocativo

๐Ÿ‡น๐Ÿ‡ท daฤŸฤฑtฤฑcฤฑ

๐Ÿ‡ฐ๐Ÿ‡ท ํ• ๋‹น์˜

๐Ÿ‡ธ๐Ÿ‡ฆ ุชูˆุฒูŠุนูŠ

๐Ÿ‡จ๐Ÿ‡ฟ alokativnรญ

๐Ÿ‡ธ๐Ÿ‡ฐ alokativnรฝ

๐Ÿ‡จ๐Ÿ‡ณ ๅˆ†้…็š„

๐Ÿ‡ธ๐Ÿ‡ฎ alokativni

๐Ÿ‡ฎ๐Ÿ‡ธ รบthlutun

๐Ÿ‡ฐ๐Ÿ‡ฟ ะฑำฉะปัƒ

๐Ÿ‡ฌ๐Ÿ‡ช แƒแƒšแƒแƒ™แƒแƒชแƒ˜แƒฃแƒ แƒ˜

๐Ÿ‡ฆ๐Ÿ‡ฟ tษ™yinatlฤฑ

๐Ÿ‡ฒ๐Ÿ‡ฝ alocativo

Etymology

The term 'allocative' derives from the verb 'allocate', which has its roots in the Latin word 'allocare'. The Latin prefix 'ad-' means 'to' or 'toward', while 'locare' means 'to place'. Thus, 'allocare' essentially means 'to place or assign'. Over time, the word evolved in the English language, particularly in economic discussions that began to flourish in the 18th century. It became popular in the context of economics and resource management, especially during the rise of welfare economics in the 20th century. As economists sought to understand how to distribute resources effectively within a society, the concept of allocative efficiency became crucial for analyzing how different allocations lead to differing societal outcomes.

Word Frequency Rank

At rank #29,231, this word represents specialized academic or technical vocabulary. It's less frequently encountered but may be valuable in specific contexts.