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The theory states that concentrating industries in specific regions creates several advantages. For one, greater economic activity occurs when many firms cluster in one area. In turn, this creates agglomeration spillovers which increases the total factor productivity of firms in the same county since they are all competing for the top spot.
In economics, industrial organization is a field that builds on the theory of the firm by examining the structure of (and, therefore, the boundaries between) firms and markets. Industrial organization adds real-world complications to the perfectly competitive model, complications such as transaction costs , [ 1 ] limited information , and ...
Large firms also tend to be old and in mature markets. Both of these have negative implications for future growth. Old firms tend to have a large retiree base, with high associated pension and health costs, and may be unionized, with associated higher salaries and labor rights. Mature markets tend to only offer the potential for small ...
The end of the First World War caused a brief economic crisis in Weimar Germany, permitting entrepreneurs to buy businesses at rock-bottom prices. The most successful, Hugo Stinnes , established the most powerful private economic conglomerate in 1920s Europe – Stinnes Enterprises – which embraced sectors as diverse as manufacturing, mining ...
This category relates to specifically sociological terms and concepts. Wider societal terms that do not have a specific sociological nature about them should be added to social concepts in keeping with the WikiProject Sociology scope for the subject.
As cases of the HMPV virus continue to increase in the U.S. and in China, here's what you need to know about the virus.
The First World War period saw a change of emphasis in economic theory away from industry-level analysis which mainly included analyzing markets to analysis at the level of the firm, as it became increasingly clear that perfect competition was no longer an adequate model of how firms behaved. Economic theory until then had focused on trying to ...
Jeffrey Goedde, 41, handed himself into the Jefferson County Sheriff’s Office on Wednesday, Dec. 18, according to court documents seen by PEOPLE