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Define Decentralization and Identify Its Expected Benefits and Costs

question 20

Essay

Define decentralization and identify its expected benefits and costs.


Definitions:

Demand Side

Refers to the consumers or buyers in an economy, focusing on their behavior and how their decisions affect market demand for goods and services.

Supply Side

Economic policies or theories emphasizing production incentives, tax reductions, and deregulation to drive economic growth by increasing supply.

Land's Rent

The price paid for the use of land or real estate, reflecting its productivity or utility in generating income.

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