What economic concept involves the allocation of produced goods and services among consumers?

The concept that involves the allocation of produced goods and services among consumers is distribution. In economics, distribution refers to the processes and mechanisms by which goods and services are disseminated to consumers after they have been produced. This includes the methods by which products move through various channels to reach end-users, such as through wholesalers, retailers, or direct sales.

Distribution is essential for ensuring that goods and services are available where and when they are needed, helping to match supply with demand. It plays a crucial role in determining prices, market accessibility, and ultimately, consumer satisfaction. Efficient distribution systems can enhance economic efficiency by reducing waste and optimizing resource use.

The other options, while relevant to the economic process, do not pertain directly to the allocation of goods and services after their production. Production focuses on creating goods and services, consumption pertains to the use of those goods and services by consumers, and investment relates to the allocation of resources for future production or capital growth.