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The theory states that concentrating industries in specific regions creates several advantages. For one, greater economic activity occurs when many firms cluster in one area. In turn, this creates agglomeration spillovers which increases the total factor productivity of firms in the same county since they are all competing for the top spot.
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
Productive efficiency occurs when units of goods are being supplied at the lowest possible average total cost. When drawing diagrams for businesses, this condition is satisfied if the equilibrium is at the minimum point of the average total cost curve. This is again the case for the long run equilibrium of perfect competition.
One of the major subfields of urban economics, economies of agglomeration (or agglomeration effects), explains, in broad terms, how urban agglomeration occurs in locations where cost savings can naturally arise. [1] This term is most often discussed in terms of economic firm productivity.
Government must prepare a budget to create a surplus. [8] Three other canons are: Canon of elasticity – it says there should be enough scope in expenditure policy.government should be able to increase or decrease it according to the period. Canon of productivity – public expenditure should encourage production efficiency of the economy.
Sep. 18—Howard County employees next year are set to receive a 5% raise for the third year in a row, while employees at the Howard County Sheriff's Office are set to receive a larger 10% raise.
The success of government cannot be measured in terms of profit because most of the activities managed by the government are unprofitable. Although, there are some government activities that yield profit which cannot be always measured in terms of money, even though we realize there is an existing benefit to such programs.
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