Distinguish between Stocks and Flows.
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- A stock is measured at one specific time, and represents a quantity existing at that point in time (say, December 31, 2004), which may have accumulated in the past. A flow variable is measured over an interval of time. Therefore, a flow would be measured per unit of time (say a year
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Explanation:
Controlled by several local offices or authorities rather than one single one.
Ex:
"Canada has one of the most decentralized governments in the world"
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