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AGGLOMERATION ECONOMIES: A reduction in production cost the results when related firms locate near one another. Firms can be related as competitors in the same industry, by using the same inputs, or through providing output to the same demographic group. The fashion industry, for example, experiences agglomeration economies because they can share specialized inputs (photographers, models) that would be too expensive to employ full time. Retail stores have agglomeration economies when located in shopping malls because they have access to a large group of potential customers with lower advertising cost. Agglomeration economies is given as one of the primary reasons for the emergence of urban areas.
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CONSUMER PRICE INDEX An index of prices of goods and services typically purchased by urban consumers. The Consumer Price Index (CPI) is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI is one of two key price indexes used as a measure of the price level and to estimate the inflation rate. The other is the GDP price deflator. The CPI is also officially designated as the Consumer Price Index for All Urban Consumers (CPI-U). Another noted price index is the Producer Price Index (PPI).
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for pencil sharpeners with an attitude.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Nearly all men can stand adversity; but if you want to test a manžs character, give him power. " -- Abraham Lincoln, 16th U.S. President
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IRT
International Trade Commission
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