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:

Social Cognition

The study of how people process, store, and apply information about others and social situations, influencing understanding, attitudes, and behaviors.

Cognitive Dissonance

The psychological conflict resulting from holding two or more contradictory beliefs, values, or attitudes simultaneously.

Sociolinguistics

The study of how language is influenced by social factors, including cultural norms, expectations, context, and the identity of speakers and listeners.