Name at least two (hypothetical) competing potential uses for " A semi-tractor and trailer owned by a private trucker". Then describe how the market process determines to which use the resource will eventually be allocated.

AN EXAMPLE: An abandoned school building in a recently revitalized city neighborhood.

Use 1: One possible use of this abandoned property could be a new apartment development that includes a roof top garden.

Use 2: One possible use of this abandoned property could be an office building.

The market process determine which resources will be allocated based on the demand for new apartments in this particular city location.If there aren't many apartment developments near-by, but a growing population that desires city living, then this may be the best use of the property. If new businesses are seeking to locate in this property and have enough employees to fill the space; and if economically feasible, then the business maybe the best use of this resource.In this scenario, the city provides tax incentives and loans for the apartment developer, and a recent population survey indicates that single-dwelling units are in short supply - so the market will allocate the resource to the apartment development.