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[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]What is a Centralized Government?Definition: A centralized form of government is one in which all power is held by a single authority or by a group of people. Regional or local leaders are appointed by the central authority and...

What is a Change in Demand? Definition: A change in demand is an increase or a decrease in demand that is not caused by a variation in price. The change could be a result of shifting consumer preferences, a variation in income levels, or a change in...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]What is a Chief Financial Officer (CFO)?Definition: The term Chief Financial Officer is often referred to by its initialism, CFO. The CFO of a company is its senior-most financial officer. This person is responsible for managing the company’s finances...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]What is a Circular Flow Model?Definition: A circular flow model illustrates the movement of goods and services in an economy. Consumers, which are referred to as households, supply the factors of production to producers, which are called firms. The...

What is Cluster Sampling? Definition: Cluster sampling is a statistical technique that breaks down the population to be surveyed into segments or clusters. Subsequently, a limited number of clusters are surveyed. If the population is large, random samples may be identified from the selected clusters. Alternately, the...