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The economy of Arkansas produced $176.24 billion of gross domestic product in 2023. [1] Six Fortune 500 companies are based in Arkansas, including the world's #1 corporation by revenue, Walmart. [8] Arkansas's per capita income for 2023 was $54,347, and the median household income was $55,432, which ranked 47th among U.S. states. [2] [9]
Diseconomies of agglomeration are the opposite. For example, spatially concentrated growth in automobile-oriented fields may create problems of crowding and traffic congestion. The tension between economies and diseconomies allows cities to grow but keeps them from becoming too large.
The size of the high tech industry, creates positive externalities for each firm located in Silicon Valley. Urbanization economies arise when the size of the city leads to an increase in productivity. Los Angeles exemplifies urbanization economies in that it has no single dominant industry, yet continues to grow. Firms which locate in Los ...
Within the maker movement and DIY culture, small scale production by consumers often using peer-to-peer resources is being referred to as distributed manufacturing. Consumers download digital designs from an open design repository website like Youmagine or Thingiverse and produce a product for low costs through a distributed network of 3D printing services such as 3D Hubs, Geomiq.
Likewise, lower-income housing trades off greater living space for increased accessibility to employment. For this reason, low-income housing in many North American cities, for example, is often found in the inner city, and high-income housing is at the edges of the settlement.
The concentration ratio (CR) is a measure of how concentrated a market is. [9] By dividing the overall market share by the sum of the market shares of the largest enterprises, it is calculated. It can be used to assess the market's strength over both the short and long haul.
In 2003, Arkansas had 1,466,600 acres planted with rice. California and Louisiana, the two states runner up to Arkansas in these categories, had only 509,000 and 455,000 acres of rice under cultivation in the same year, respectively. The five largest rice-producing counties in the state of Arkansas were Poinsett (134,944 harvested acreage ...
Arkansas is one of 9 U.S. states and the District of Columbia without utility-scale wind power. [27] Other renewables Arkansas is 14th among states with the most installed hydroelectric generating capacity and 16th with the most generation from biomass. In 2011, hydroelectric installations generated 2,992 million kilowatt hours, while 1,668 ...