In an Industry Where Transportation Costs Are High and There

question 7

Multiple Choice

In an industry where transportation costs are high and there are limited scale economies,

• A)firms will locate close to the market.
• B)firms will locate close to their input sources.
• C)firms might locate in either area.
• D)firms will locate where policy makers decide.

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Definitions:

Autocratic Governments

Autocratic governments are characterized by a single authority or leader with absolute power, where decision-making is centralized and citizen participation is minimal or non-existent.

Democratic Governments

Democratic governments are those in which power is vested in the hands of the people, either directly or through elected representatives, and decisions are made based on majority rule.

Intermediary Governments

These are levels of government situated between the central or national authorities and the local governments, facilitating coordination and policy implementation across different regions.

Elite Theory

A theory asserting that a small minority, consisting of members of the economic elite and policy-planning networks, holds the most power in society which they use to influence and control public policy.