Once an Industry Becomes Established in a Certain Area Firms

question 110

Multiple Choice

Once an industry becomes established in a certain area firms that locate in that area gain advantages over firms located elsewhere,leading to lower costs of production.Economists refer to the lower costs that result from increases in the size of an industry in a certain area as

• A)external economies.
• B)positive externalities.
• C)strategic advantages.
• D)technological change.

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Definitions:

Justice

A Belmont Report principle that the benefits and risks of research should be distributed fairly.

Categorical Imperative

Philosopher Immanuel Kant’s concept that a behavior is valid if one is willing to see it applied as a universal rule.

Informed Consent Forms

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Nature of the Study

A detailed description of the research design, methodology, and overall approach being used in a research project.