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Economies of scale is related to and can easily be confused with the theoretical economic notion of returns to scale. Where economies of scale refer to a firm's costs, returns to scale describe the relationship between inputs and outputs in a long-run (all inputs variable) production function.
This is a list of U.S. states and territories by economic growth rate.This article includes a list of the 50 U.S. states, the District of Columbia, and the 5 inhabited U.S. territories sorted by economic growth — the percentage change in real GDP for the third quarter of 2023 is listed (for the 50 states and District of Columbia), using the most recent data available from the U.S. Bureau of ...
This list of U.S. states by socioeconomic factors, unless otherwise footnoted, is taken from the "Quick Facts" web pages of the United States Census Bureau and the Population Health Institute of the University of Wisconsin. All data listed is for 2020 unless otherwise stated.
External economies of scale result from an increase in the productivity of an entire industry, region, or economy due to factors outside of an individual company. There are three sources of external economies of scale: input sharing, labor market pooling, and knowledge spillovers (Marshall, 1920). [1] Localization economies occur when an ...
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 ...
3. Mississippi. March 2022 unemployment rate: 4.2% Year-over-year change in unemployment Feb. 2021: 2.5% Q4 2021 GDP per capita: $57,769 GDP growth Q3 2021-Q4 2021: 5.7% Average weekly wages Sept ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a ...