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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 CONFIDENCE INDEX A measure of consumer attitudes, preferences, and expectations concerning the state of the economy and business cycle conditions that is compiled each month by The Conference Board. The Conference Board is also responsible for compiling the leading, coincident, and lagging economic indicators. The Consumer Confidence Index is one of two primary measures of consumer attitudes. The other is the Index of Consumer Sentiment developed by the University of Michigan.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for deranged pelicans.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"We must be willing to let go of the life we have planned, so as to have the life that is waiting for us. " -- E. M. Forster, writer
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G-7
Group of Seven
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