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The public policy to combat market power is through the Federal Trade Commission. They can prevent mergers, let mergers go through with the condition of selling some assets in which there is concentrated market power. Also the Department of Justice can litigate and even break up large companies such as it has done with Standard Oil and AT&T.
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Disadvantages of market mechanism?
it does not take into account market power, public goods, merit goods and externalities. it works in a free market and not in a controlled one.
What policies help to control abuse of monopoly power?
Economists have often advocated antitrust policy, public enterprise, or regulation to control the abuse of monopoly power.
What economic system does India have?
The Indian economy is the world's twelfth largest according to market exchange rates. It is also the fourth largest economy by purchasing power parity (PPP) basis. From 1947 to 1991, the India Economic System was based on social democratic-based policies. The policies feature protectionism, extensive regulation and public ownership which led to slow growth and corruption. But the economy has moved to a market-based system with economic liberalization starting in 1991. The growth rate of the economy increased in 2000's with healthier economic reforms and policies. India became the second-fastest growing major economy in the world by 2008. In economic terms, India has a Mixed Market Economy - it uses a variety of government regulations to control the economy, but relies primarily on market forces to set pricing and demand and uses the general principles of capitalism.
The market structure that is characterized by a small number of large firms that have some market power is called?
The market structure that is characterized by a small number of large firms that have some market power is called
Firms in which market structure hold the most market power?
Monopoly
What is the power to make law and frame public policies?
what is the power to make law and frame public policies.
Is the power to make and frame public policies?
legislative power
Is the power to make law and frame public policies?
legislative power
What is the ability to make laws?
what is the power to make law and frame public policies.
Disadvantages of market mechanism?
it does not take into account market power, public goods, merit goods and externalities. it works in a free market and not in a controlled one.
What policies help to control abuse of monopoly power?
Economists have often advocated antitrust policy, public enterprise, or regulation to control the abuse of monopoly power.
Which principle of joint operations purpose is to concentrate the effects of combate power at the most advantageous place and time to produce decisive results?
economy of force
Does the institution created by a society to create and enforce public policies or a group of people who have the power to make and enforce laws best describe the US government?
A group of people who have the power to make and enforce laws.
What does the government power of eminent domain allows them to do?
Basically it is the power to take private property for public use, as long as the owner is justly compensated for the value of the property (in a free market).
How does the complexity of public policy problems contribute to bureaucratic independence?
The Federal bureaucracy is given discretionary authority, which basicly gives it the power to make policies not spelled out in constitution. This power has allowed the bureaucracy to grow, and given them independence.
What can a firm with market power do?
A firm with market power has the ability to control prices and total market output .
What economic system does India have?
The Indian economy is the world's twelfth largest according to market exchange rates. It is also the fourth largest economy by purchasing power parity (PPP) basis. From 1947 to 1991, the India Economic System was based on social democratic-based policies. The policies feature protectionism, extensive regulation and public ownership which led to slow growth and corruption. But the economy has moved to a market-based system with economic liberalization starting in 1991. The growth rate of the economy increased in 2000's with healthier economic reforms and policies. India became the second-fastest growing major economy in the world by 2008. In economic terms, India has a Mixed Market Economy - it uses a variety of government regulations to control the economy, but relies primarily on market forces to set pricing and demand and uses the general principles of capitalism.
