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Explain How Concentration of Industries in a Particular Region Can

question 25

Essay

Explain how concentration of industries in a particular region can lead to external economies.


Definitions:

Sales Revenue

The earnings accumulated from the sale of products or services during a specific timeframe.

Cash

A company's most liquid asset, representing currency or assets that can be immediately converted into currency.

Sales Tax Payable

A liability account that represents the sales tax collected from customers by a selling entity and owed to the tax authority.

Cash

Money in the form of currency, which includes bills, coins, and money in bank accounts that is available for immediate use.

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