Market Allocation can be defined as an agreement where the competitors in the market divides the market into separate segments amongst themselves. In each of these segments the competing firms have a separate allocation of the specific customers that it intends to target in the market. It also comprises the particular products it intends to sell and the area where the sale is to be made. Command allocation generally comes under the banner of the command economy and is concerned with providing the basic necessities of lies and opportunities to all the members in the society. Here, the opportunities are provided equally with no bias made towards any other members.
Traditional allocation can be defined as the allocation in the
case of factory overheads that is based on the total volume of production amidst the resources that have been consumed. It also assesses the consumption of the labor hours, machine hours and so on. On a closer inspection of all of these factors it is evident that these three types of allocation helps create an idea of the production of goods and services and its distribution in the market. The production is determined by the traditional allocation that helps in determining the volume produced through the total labor hours worked by workers. On the other hand the distribution can be understood from the command allocation and market allocation where each provides a detailed idea regarding how the products are distributed in the economy.
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