ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Agglomeration
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Bulk-reducing industry
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Bulk-gaining industry
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Cottage industry
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Economies of scale
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Detailed explanation-1: -(geography) An extended city area comprising the built-up area of a central city and any suburbs linked by continuous urban area.
Detailed explanation-2: -Economies of association of agglomeration tend to be increased through what? The multiplier effect. When does industrial deglomeration occur? When the costs of aggregation exceed the benefits.
Detailed explanation-3: -Agglomeration: A localized economy in which a large number of companies and industries cluster together and benefit from the cost reductions and gains in efficiency that result from this proximity. Cumulative causation: Describes the continued growth due to the positive aspects of agglomeration.
Detailed explanation-4: -Common examples of primary economic activities include agricultural and animal products, forestry and logging, mining, oil, and gas extraction.