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AGGLOMERATION: The clustering of several similar or related activities at the same location. Many industries have firms that tend to agglomerate, that is, locate very close to one another, leading to geographic concentration. For example, the motion picture industry is concentrated in California, the fashion industry is concentrated in New York, and the petroleum industry is concentrated in Texas. Agglomeration can be caused by accessibility to a concentrated natural resource (such as petroleum or sunny weather), but if often feeds upon itself through agglomeration economies. Firms in the same industry often have lower production cost when the located near their competitors.
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MARKET DEMAND The combined demand of everyone willing and able to buy a good in a market. Market demand is one half of the market. The other is market supply. It is graphically represented by a negatively-sloped market demand curve, which can be derived by combining, or adding, the individual demands of every buyer in the market.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for crowded shopping malls.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"The only profit center is the customer. " -- Peter Drucker, management consultant
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T-BILL
Treasury Bill
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