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- Economic power can be divided into different categories- Purchasing power, i.e., the ability of any amount of money to buy goods and services. Those with more assets, or, more correctly, net worth, have more power of this sort. The greater the liquidity of one's assets, the greater one's purchasing power is. Monopoly power, i.e., the ability to set prices or wages. This is the opposite of the situation in a perfectly competitive market, in which supply and demand set prices. Bargaining power, i.e., the ability of players in a bargaining game to influence the outcome, which is the players sharing rule for something. See e.g. Muthoo, Abhinay 1999: Bargaining theory with applications, Cambridge University Press. To be able to bargain prices. Also see definition of bargaining. Managerial power, i.e., the ability of managers to threaten their employees with firing or other penalties for not following orders or for not giving in satisfying reports. This exists if there is a cost of job loss, especially due to the existence of unemployment and workers' lack of sufficient assets to survive without working for pay.
We couldn't find any anagrams for the word economic power.
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econometer, econometric, econometrician, econometrics, economic, economical, economically, economics, economism, economist
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"economic power." Anagrams.net. STANDS4 LLC, 2024. Web. 15 May 2024. <https://www.anagrams.net/economic%20power>.
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