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In economics, a location model or spatial model refers to any monopolistic competition model that demonstrates consumer preference for particular brands of goods and their locations. Examples of location models include Hotelling 's Location Model, Salop 's Circle Model, and hybrid variations.
In economics, the economics of location is the study of strategies used by firms and retails in a monopolistically competitive environment in determining where to locate. [1] Unlike a product differentiation strategy, where firms make their products different in order to attract customers, an economics of location strategy is consistent with ...
Location theory has become an integral part of economic geography, regional science, and spatial economics. Location theory addresses questions of what economic activities are located where and why. Location theory or microeconomic theory generally assumes that agents act in their own self-interest. Firms thus choose locations that maximize ...
Economic geography takes a variety of approaches to many different topics, including the location of industries, economies of agglomeration (also known as "linkages"), transportation, international trade, development, real estate, gentrification, ethnic economies, gendered economies, core-periphery theory, the economics of urban form, the ...
Regional science is a field of economics concerned with analytical approaches to problems that are related specifically to regional and international issues. Topics in regional science include, but are not limited to location theory or spatial economics, location modeling, transportation, trade and migration flows, economic geography, land use and urban development, inter-industry analysis ...
A place is an area that is defined by everything in it. It differs from location in that a place is conditions and features, and location is a position in space. [4] Places have physical characteristics, such as landforms and plant and animal life, as well as human characteristics, such as economic activities and languages. [1]
Regional economics is a sub-discipline of economics and is often regarded as one of the fields of the social sciences.It addresses the economic aspect of the regional problems that are spatially analyzable so that theoretical or policy implications can be the derived with respect to regions whose geographical scope ranges from local to global areas.
It varies between different regions depending on both formal policies and established social norms, and has different effects and responses in different societies. Population mobility has implications ranging from administrative changes in government and impacts on local economic growth to housing markets and demand for regional services.