Net Advantages Gained by the Sharing of Common Locations by Similar

question 140

Multiple Choice

Net advantages gained by the sharing of common locations by similar enterprises is based on which of the following terms?

• A) Agglomeration
• B) Lowest cost
• C) Differentiation
• D) Free market

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Definitions:

Bilateral Trade Agreement

An agreement between two countries that lowers tariffs and trade barriers on most goods and services traded between them.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a country's economy by bringing in revenues.

Mercantilism

An economic theory and practice dominant in Europe from the 16th to the 18th century, focusing on accumulating wealth through trade and having a positive balance of trade.

Higher Rates

Increased levels of a particular measure, often referring to interest, inflation, or pricing rates compared to a standard or previous period.