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Economics of location. 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. Unlike a product differentiation strategy, where firms make their products different in order to attract customers, an economics of location strategy is ...
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply ...
In economics, in situ is used when referring to the in place storage of a product, usually a natural resource. More generally, it refers to any situation where there is no out-of-pocket cost to store the product so that the only storage cost is the opportunity cost of waiting longer to get your money when the product is eventually sold.
Location model (economics) 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.
Location theory addresses questions of what economic activities are located where and why. Location theory or microeconomic theorygenerally assumes that agents act in their own self-interest. Firms thus choose locations that maximize their profits and individuals choose locations that maximize their utility. History.
Biobased economy, bioeconomy or biotechonomy is economic activity involving the use of biotechnology and biomass in the production of goods, services, or energy. The terms are widely used by regional development agencies, national and international organizations, and biotechnology companies. They are closely linked to the evolution of the ...
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 ...
Retail geography. Retail geography, or geography of retailing, is the study of where to place retail stores based on where their customers are. The use of retail geography has grown significantly in the past decade as a result of the use of geographic information systems ( GIS ). It first emerged in the United States in the 1960s. [ 1]