What is industrial licensing? How does it impact allocation of resources
allocation of resource means-- assignment of availabe resources
impact on allocation--- it REGULATES the allocation of resources for different uses as whenver the company will expand its production capacity it will be required to acquire licence n thus it will give the govt. an opportunity to keep a check that where the resources are going ...for what purpose they are being used..n if scarce resources are properly utilised or not..
without license any industry would use or even exploit the resuorces no matter how scarse they are..