Sometimes, the vested interest problem is aggravated by a certain imbalance or asymmetry that confers greater power on concentrated producer interests in relation to diffused consumer interests. Such imbalance or asymmetry was first identified by which of the following economists?
A. Alfred Marshal
B. David Ricardo
C. Vilfredo Pareto
D. Amartya Sen
Answer:C
Sometimes, the vested interest problem is aggravated by a certain imbalance or asymmetry that confers greater power on concentrated producer interests in relation to diffused consumer interests. Such imbalance or asymmetry was first identified by which of the following economists?
A. Alfred Marshal B. David Ricardo C. Vilfredo Pareto D. Amartya Sen
Explanation: In context of current situation of Indian economy, interests regarded as the most powerful reason for lack of exit is the power of vested interests. Often, this vested interest problem is aggravated by a certain imbalance or asymmetry (first identified by the Italian economist Pareto) that confers greater power on concentrated producer interests in relation to diffused consumer interests.