ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A central authority usually has the privilege and responsibility to make decisions about the goods or money later will be reallocated among the group as a whole.
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Reciprocity
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Transfers
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Market Transactions
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Redistribution
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Explanation:
Detailed explanation-1: -The leader usually has the ultimate power to make decisions without the need for public approval or input. Examples include democratic government, where the leader is elected to office and given powers to make decisions on behalf of its citizens.
Detailed explanation-2: -A Central Authority is an agency or organization that is designated to play a key facilitating role in the implementation and operation of an international treaty in public and private international law.
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