Any allocation of resources by the society would result in the ....... of a particular combination of different goods and services.
Options:
Consumption
Production
Exchange
Demand and supply
Correct Answer:
Production
Explanation:
The correct answer is Option (2) → Production
Allocation of resources means deciding how a society’s limited resources (land, labour, capital, and entrepreneurship) are used to produce various goods and services.
When resources are allocated, they determine what goods and services will be produced and in what quantities — i.e., the production of a particular combination of goods and services.