The Figure Given Below Represents an Imperfectly Competitive Resource Market

question 12

Multiple Choice

The figure given below represents an imperfectly competitive resource market. Here common land (and not land used for specific purpose) is under consideration.Figure 18.1

-In a market system, incomes are distributed according to the:

• A)principle of equality.
• B)directions of a central authority.
• C)needs of the people.
• D)ownership of resources.
• E)objectives of a planning commission.

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Definitions:

Central Distributing Agency

An organization or entity responsible for the centralized procurement and distribution of goods or services.

Capital Market

A financial market in which long-term debt or equity-backed securities are bought and sold.

Wealth Creation

The process of generating financial wealth through various means, such as investment, entrepreneurship, or economic growth.

Competitive Capital

A term that typically refers to the financial resources a company uses to stay competitive in its market, including investments in technology, talent, and innovation.