Question

As opposed to the decentralized power in markets, _________ represent a concentration of economic power that...

As opposed to the decentralized power in markets, _________ represent a concentration of economic power that allows them to make decisions and issue commands to workers.

Question 9 options:

Consumers

Governments

Employees

Firms

Homework Answers

Answer #1

If we talked border decentralized power then in this type of market, the power is not limited to any Central authority

It is distributed among the whole market like producers,sellers demand supply etc

But opposite to it is is when there is centralised power

Among the given options the firms will represent the concentration of economic power

The best example of this is oligopoly firms in which only few large sellers and large number of buyers in the market

They form cartels to have price in market control

Consumers do not form any type of market

Neither employees form many type of market to command the workers

So the only correct answer here is option D

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