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

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Question 1 Which of the following is not a feature of competitive markets? options: Identical goods...
Question 1 Which of the following is not a feature of competitive markets? options: Identical goods Free entry and free exit Market power Many buyers and many sellers Question 2 In a short-run equilibrium in a competitive market, which of the following is true? options: P=AVC Existing firms must make zero economic profit Existing firms may make negative economic profit and still remain open P=ATC Question 3 In a long-run equilibrium, which of the following is true? options: P=AVC Economic...
In a _______________________, most economic decisions about what to produce, how to produce it, and for...
In a _______________________, most economic decisions about what to produce, how to produce it, and for whom to produce it are made by governments rather than sellers and buyers. Question 1 options: 1) market-oriented economy 2) microeconomy 3) macroeconomy 4) command economy Which of the following is most likely a topic of discussion in macroeconomics? Question 2 options: 1) an increase in the price of a hamburger 2) a decrease in the production of DVD players by a consumer electronics...
Which of the following would not be a central issue in economics? Question 1 options: How...
Which of the following would not be a central issue in economics? Question 1 options: How is production carried out? Who consumes what? What goods are produced? When are goods consumed and produced? None of the above Question 2 (1 point) Which of the following would be of particular interest to a micro-economist? Question 2 options: amount of fruit the typical household consumes nation’s inflation rate nation’s rate of unemployment budget of the national government Question 3 (1 point) People...
Most economic models 
a. incorporate the assumption of rational behavior on the part of economic actors....
Most economic models 
a. incorporate the assumption of rational behavior on the part of economic actors. b. incorporate the notion that people are usually reluctant to change their minds. c. are meant to precisely duplicate reality.
d. assume that people often make sub-optimal choices. 
 When economists assume that people are rational, they assume that a. consumers maximize profits.
b. firms maximize revenues.
c. consumers maximize utility. 
d. firms maximize output. 
 The basic theory of consumer behavior is based on which...
Question 1 2 pts Let x represent the height of first graders in a class. This...
Question 1 2 pts Let x represent the height of first graders in a class. This would be considered what type of variable: Nonsensical Lagging Continuous Discrete Flag this Question Question 2 2 pts Let x represent the height of corn in Oklahoma. This would be considered what type of variable: Discrete Inferential Distributed Continuous Flag this Question Question 3 2 pts Consider the following table. Age Group Frequency 18-29 9831 30-39 7845 40-49 6869 50-59 6323 60-69 5410 70...
The welfare loss from monopoly can be seen from the difference in equilibrium between a. marginal...
The welfare loss from monopoly can be seen from the difference in equilibrium between a. marginal revenue and marginal benefit. b. marginal cost and marginal benefit. c. supply and demand. Which of the following is not a reasonable argument for government involvement in education? a. Education has some public good aspects, especially in a democracy. b. Education is a merit good. c. Education is more efficiently produced by government. d. Public provision of education has desirable distributional consequences. A mixed...
How failing power utility is fuelling South Africa’s economic crisis South Africa’s state power utility Eskom...
How failing power utility is fuelling South Africa’s economic crisis South Africa’s state power utility Eskom is the biggest challenge facing the country. Mess up Eskom, and you mess up the country. In addition, it looks as though key players are doing just that. The past two weeks will be remembered as the start of a cataclysmic economic crisis caused by the failure of three powerful men to spend enough time in a room to find a comprehensive solution that...
Ben and Chris combined their love of hockey with a business venture. They purchased a small...
Ben and Chris combined their love of hockey with a business venture. They purchased a small portable cart and began selling hockey memorabilia outside of the hometown hockey arena. Their first year went well, but this past year has been a real struggle. Due to poor economic conditions including a loss of jobs, ticket sales at the arena are down, which has significantly hurt their sales as well. As a recent business school graduate, you explain to Ben and Chris:...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president by working to build good work relationships with other managers outside her own department. Brianna's behavior should be viewed as dysfunctional politics. functional politics. coercive power. functional influence. 2 points QUESTION 2 1. The Gingerbread Factory has a separate unit that makes their chocolate crunch cookies and another unit that is completely responsible for all operations in producing their ginger snap cookies. The Gingerbread...
practice quiz 1. A legal maximum price at which a good can be sold is a...
practice quiz 1. A legal maximum price at which a good can be sold is a price a. floor b. stabilization c. support d. ceiling 2. A price floor is not binding if a. the price floor is higher than the equilibrium market price b. the price floor is lower than the equilibrium market price c. people are willing to buy less when the price floor is imposed as they did before d. the government sets it 3. Rationing by...