Briefly Explain What the Term "Agglomeration Economies" Refers to and Briefly

question 6

Essay

Briefly explain what the term "agglomeration economies" refers to and briefly describe what the fundamental reason for the development of this particular type of economy relates to. Provide two examples of factors associated with agglomeration economies and identify what these factors help to explain. Identify two factors that would lead to diseconomies and briefly explain how the future of many of the world's cities will be likely be determined.

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Definitions:

Job-related Knowledge

Refers to the information and skills required to perform the duties and responsibilities of a specific job effectively.

Behavior

Observable actions or reactions of individuals, often studied to understand, predict, or influence human responses.

Selection

The process of choosing from a group of candidates the individuals who are best suited for a particular position or task.

Skills

Abilities or expertise that an individual possesses, which are developed through practice and education, and are necessary for performing specific tasks.