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A business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally. Accounting is a part of the business cluster.
Market concentration is affected through various forces, including barriers to entry and existing competition. Market concentration ratios also allows users to more accurately determine the type of market structure they are observing, from a perfect competitive, to a monopolistic, monopoly or oligopolistic market structure. [7]
[12] [13] The modern metropolitan statistical area was created in 1983 amid a large increase in the number of eligible markets, which grew from 172 in 1950 to 288 in 1980; [12] [14] the core based statistical area (CBSA) was introduced in 2000 and defined in 2003 with a minimum population of 10,000 required for micropolitan areas and 50,000 for ...
Most economists believe that there are four compositions of clusters which can be identified: Geographical cluster – a cluster of businesses in a geographical location where enough resources have accumulated to give a competitive advantage to businesses in a given economic branch e.g. the California wine cluster or the flower cluster in the Netherlands.
A concentration ratio (CR) is the sum of the percentage market shares of (a pre-specified number of) the largest firms in an industry. An n-firm concentration ratio is a common measure of market structure and shows the combined market share of the n largest firms in the market.
In marketing, geomarketing (also called marketing geography) is a discipline that uses geolocation (geographic information) in the process of planning and implementation of marketing activities. [1] It can be used in any aspect of the marketing mix — the product, price, promotion, or place ( geo targeting ).
The geographic boundaries of a market may vary considerably, for example the food market in a single building, the real estate market in a local city, the consumer market in an entire country, or the economy of an international trade bloc where the same rules apply throughout. Markets can also be worldwide, see for example the global diamond trade.
Location theory has become an integral part of economic geography, regional science, and spatial economics. Location theory addresses questions of what economic activities are located where and why. Location theory or microeconomic theory generally assumes that agents act in their own self-interest. Firms thus choose locations that maximize ...