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 |
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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