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AGGLOMERATION ECONOMIES: A reduction in production cost the results when related firms locate near one another. Firms can be related as competitors in the same industry, by using the same inputs, or through providing output to the same demographic group. The fashion industry, for example, experiences agglomeration economies because they can share specialized inputs (photographers, models) that would be too expensive to employ full time. Retail stores have agglomeration economies when located in shopping malls because they have access to a large group of potential customers with lower advertising cost. Agglomeration economies is given as one of the primary reasons for the emergence of urban areas.
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TAXATION PRINCIPLES Taxes are the mandatory payments made by members of society to governments to finance government operations. The study of public finance identifies several key principles of taxation -- tax effects (revenue and allocation), tax proportionality (proportional, progressive, and regressive), tax payments (benefit and ability-to-pay), tax equity (horizontal and vertical).
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale looking to buy either a pair of leather sandals that won't cause blisters or clothing for your kitty cats. Be on the lookout for the happiest person in the room.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"The only profit center is the customer. " -- Peter Drucker, management consultant
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TSE
Tokyo Stock Exchange
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