Discuss the Difference Between a Centralized Company and a Decentralized

question 16

Essay

Discuss the difference between a centralized company and a decentralized company.

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Definitions:

Patents and Copyrights

Legal protections for inventors and creators to exclusively commercialize their innovations and creative works for a certain period.

Barriers to Entry

Economic, procedural, regulatory, or technological factors that obstruct or restrict the ability of new competitors to enter and compete in an industry.

Price Takers

Economic agents in a market who accept the prevailing market price as given because they have no power to influence it.

Differentiated Product

A differentiated product is one that is distinct from similar products on the market through unique features, branding, or quality, enabling companies to target specific market segments.