Decentralization Has the Key Advantage of Letting Decisions Be Made

question 21

True/False

Decentralization has the key advantage of letting decisions be made by those who directly deal with customers, competitors, and markets.

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Definitions:

Tariff

A tax imposed by a government on imported or, less commonly, exported goods to protect domestic industries or to generate revenue.

Quantity Control

Measures implemented to regulate the amount of a particular good that is produced, sold, or consumed, often to stabilize markets.

Deadweight Loss

A reduction in economic effectiveness arising when a good or service does not reach or cannot reach its equilibrium state.

Demand Price

The highest price at which a consumer is willing to buy a particular quantity of a good.