Discuss the Principal Advantages and Potential Disadvantages of Having More

question 95

Essay

Discuss the principal advantages and potential disadvantages of having more centralized rather than localized buying.

---

Definitions:

Business Cycle

The fluctuations in economic activity that an economy experiences over a period of time, marked by phases of expansion and contraction.

Recessions

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Personal Accountability

Personal accountability is the self-imposed responsibility of an individual to own their decisions, actions, and outcomes, and to openly acknowledge and learn from mistakes and successes.

Corporate Misdeeds

Wrongful or illegal actions committed by companies or their representatives.