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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.
Cluster theory is a theory of strategy.. Alfred Marshall, in his book Principles of Economics, published in 1890, first characterized clusters as a "concentration of specialized industries in particular localities" that he termed industrial districts.
The concentration of this economic activity in one area (usually a city center) allows for the growth and expansion of activity into other and surrounding areas because of the cost-minimizing location decisions of firms within these agglomeration economies to sustain high productivity and advantages, which therefore allow them to grow outside ...
In economics, the new international division of labour (NIDL) is an outcome of globalization.The term was coined by theorists seeking to explain the spatial shift of manufacturing industries from advanced capitalist countries to developing countries—an ongoing geographic reorganisation of production, which finds its origins in ideas about a global division of labor. [1]
The new economic geographies consist of primarily service-based sectors of the economy that use innovative technology, such as industries where people rely on computers and the internet. Within these is a switch from manufacturing-based economies to the digital economy. In these sectors, competition makes technological changes robust.
Apple said the 250,000-square-foot server manufacturing facility, slated to open in 2026, will create thousands of jobs. The servers, previously manufactured outside of the United States, are a ...
Perfect competition exists where an industry's concentration ratio is CR n = n/N, where N is the number of firms in the industry. That is, all firms have an equal market share. Low concentration – 40% A concentration ratio of close to 0% implies perfect competition at the least. This is only possible in an industry where there is a very large ...
Northern Ireland – In 2022, manufacturing jobs employed 88,000 people, or 11% of the workers in the region. [15] At one time or another virtually every product that can be imagined has been made in the UK. In particular its heavy manufacturing drove the Industrial Revolution, starting with the first blast furnace at Coalbrookdale in Shropshire.