The correct option is a centrally planned economy. Rationing is a common form of distribution in a centrally planned economy.
Rationing is a common form of distribution in a centrally planned economy. In such an economic system, the government or a central authority controls the allocation of resources and goods. Rationing is a method used to ensure equitable distribution of scarce resources or essential goods among the population. It involves setting limits or quotas on the amount of goods or resources that individuals or households can obtain. Rationing can be implemented through a system of coupons, vouchers, or permits that entitle individuals to a certain amount of goods or services. This approach helps to prevent hoarding, price gouging, or unfair distribution. Rationing is often used during times of crisis or in economies where resources are limited and the government aims to ensure that basic needs are met for all citizens.
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Structural unemployment is a type of unemployment where people lose their jobs because their skill is no longer in demand.
Further Explanation:
Structural unemployment:
Structural unemployment exists when there is a no match between the need of the business and the skill set of the workers. Generally, this type of unemployment occurs when new technology takes places an existing process method. When the existing workers are not competent to use the new technology then their skills are not required. This situation results in structural unemployment.
In the current case, people are losing their jobs because there is no longer a demand for their skills. The use of new skill set or the replacement of the human skills with the computer skills can be the reason behind the loss in the demand.
Thus, when people lose their jobs because of the decrease in the demand for their skills is known as structural unemployment.
Learn more:
1. Learn more about the demand and supply diagram
2. Learn more about the demand curve
3. Learn more about the forecasting human resources supply
Answer details:
Grade: Senior School
Subject: Economics
Chapter: Income & Employment
Keywords: Which, type of, unemployment is, defined as, people losing, their jobs, because, their, skill, is no, longer in, demand, employment, economics, business.
b. credit returns
c. purchase returns
d. sales returns​
Answer:
The answer is d.
Explanation:
Market power is defined as the power possessed by a single individual or a company or a group of companies to have effect on the prevailing market power. Such a group has the power, which if exercised, can affect the prices and deter competition. These individuals or companies have this power over others because of the position they hold with respect to others on the basis of either their market share, market size, technical advantage or so on. Thus, option d which says the power of a single person or small group to influence market prices is the right answer.
Market power refers to the ability of a single entity or a small group to influence market prices. It typically arises when a firm is the dominant player in the market, giving it the ability to control the price of goods or services.
Market power refers to the power of a single person or small group to influence market prices (option d). It is the ability of a firm to control the price of a good or service in a market, by being the dominant player. For instance, if a single company produces a unique product that no other firms manufacture, the company can set the price as it will not face direct competition. This scenario illustrates a high degree of market power.
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b. talking about problems
c. solving problems
d. making more money