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Why Cities Created

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Submitted By charisc
Words 1968
Pages 8
WHY CITIES EXIST?

I

wHY cOMPANIES CONCETRATED AROUND CITIES
COMPARATIVE ADVANTAGE
INTERNAL ECONOMIES OF SCALE
AGGLOMERATION ECONOMIES (ΟΙΚΟΝΟΜΙΕΣ ΣΥΓΚΕΝΤΡΩΣΗΣ)

AN URBAN AREA HAS COMPARATIVE ADVANTAGE IF HAS A LOWER OPPORTUNITY COST
IN PRODUCING A PARTICULAR GOOD OR SERVICE. THE COMPARATIVE ADVANTAGE
STEMS FROM HIGHER PRODUCTIVITY PER UNIT OF TIME/COST IN THE PRODUCTION OF A PARTICULAR GOOD

FACTORS THAT CONTRIBUTE TO COMPARATIVE ADVANTAGES
-RESOURCE ENDOWMENTS-ΦΥΣΙΚΟΙ ΚΑΙ ΑΛΛΟΙ ΠΟΡΟΙ
-TECHNOLOGY
-DEMAND PATTERNS
–GOVERNMENT POLICIES

RESOURCE ENDOWMENTS
–NATURAL RESOURCES. METALS, HYDROCARBONS,FORESTS, NICE CLIMATE,BEACHES ANDOTHER NATURAL
RESOURCES THAT ARE REQUIRED FOR THE PRODUCTION OF A GOOD OR SERVICE
-TECHNICAL AND INSTITUTIONAL INFRASTRUCTURE. CITIES WITH BETTER TECHNICAL
INSTITUTIONAL INFRASTRUCTURE NEEDED FOR THE PRODUCTION OF A GOOD OR SERVICE
WILL HAVE A COMPARATIVE ADVANTAGE
-SKILLED LABOUR. CITIES WITH LARGER POOLS OF SPECIALISED LABOUR WILL HAVE A
COMPARATIVE ADVANTAGE IN PRODUCING PRODUCTS THAT USE HUMAN SKILLS MORE
INTENSIVELY

TECHNOLOGY
COUNTRIES WITH MORE ADVANCED TECHNOLOGIES HAVE A COMPARATIVE ADVANTAGE IN
THE PRODUCTION OF GOODS THAT CAN BENEFIT THIS TECHNOLOGY

-WHO HAS A COMPETITIVE ADVANTAGE IN CONSTRUCTING COMMERCIAL SPACESHIPS?
-ARE THERE TECHNOLOGICAL DIFFERENCES BETWEEN CITIES IN CYPRUS ?
-TO ANSWER THIS QUESTION WE NEED TO THINK IN TERMS OF AVAILABLE
TECHNOLOGY AND LABOUR SPECIALISED TO OPERATE THIS EQUIPMENT
DEMAND SIZE
–THE SIZE OF DEMAND CAN PROVIDE COMPARATIVE ADVANTAGE THROUGH
ECONOMIES OF SCALE WHICH REDUCE PRODUCTION COSTS PER UNIT OF
OUTPUT
-ARE THERE ANY SERVICES THAT ARE OFFERED IN NICOSIA BUT NOT
OFFERED IN PAPHOS BECAUSE THE SIZE OF DEMAND IN PAPHOS IS VERY
SMALL TO MAKE VIABLE THE PRODUCTION OF THESE SERVICES COMPARED TO THEIR COST?
ΥΠΑΡΧΟΥΝ ΥΠΗΡΕΣΙΕΣ ΠΟΥ ΠΡΟΣΦΕΡΟΝΤΑΙ ΣΤΗΝ ΛΕΥΚΩΣΙΑ ΑΛΛΑ ΔΕΝ
ΠΡΟΣΦΕΡΟΝΤΑΙ ΣΤΗ ΠΑΦΟ ΔΙΟΤΙ ΤΟ ΜΕΓΕΘΟΣ ΤΗΣ ΖΗΤΗΣΗΣ ΣΤΗΝ ΠΑΦΟ
ΕΊΝΑΙ ΠΟΛΎ ΜΙΚΡΟ ΓΙΑ ΝΑ ΚΑΝΕΙ ΒΙΩΣΙΜΗ ΤΗΝ ΠΑΡΑΓΩΓΗ ΑΥΤΩΝ ΤΩΝ
ΥΠΗΡΕΣΙΩΝ ΣΕ ΣΧΕΣΗ ΜΕ ΤΟ ΚΟΣΤΟΣ ΤΟΥΣ?
GOVERNMENT POLICIES
GOVERNMENT POLICIES TOWARDS INFRASTRUCTURE, EXPORTS, AND ECONOMIC DEVELOPMENT CAN PLAY AN IMPORTANT ROLE IN CREATING AND SUSTAINING COMPARATIVE ADVANTAGE.
WILL ΤΗΕ DEVELOPMENT OF THE TERMINAL AT VASILIKO CREATE ANY
COMPARATIVE ADVANTAGE FOR THE URBAN AREA/DISTRICT IN WHICH IT WILL BE LOCATED?

LET’S TAKE THE EXAMPLE OF TWO ECONOMIC SECTORS:

1.FINANCIAL SERVICES
2.TOURISM

WHICH CITY HAS COMPARATIVE ADVANTAGE IN PRODUCING FINANCIAL SERVICES:
PAPHOS OR NICOSIA?
A QUESTION TO THINK ABOUT
HOW DOES THE COMPARATIVE ADVANTAGE OF A CITY AFFECTS ITS REAL ESTATE MARKET?
NICOSIA BECAUSE OF LARGER DEMAND THAT ALLOWS GREATER ECONOMIES OF SCALE
MORE LABOUR THAT IS SKILLED IN THE FINANCIAL SERVICES SECTOR
PROXIMIITY TO INSTITUTIONAL INFRASTRUCTURE ASSOCIATED WITH
FINANCIAL SERVICES (CENTRAL BANK, STOCK EXCHANGE, HEADQUARTERS
OF ALL MAJOR FINANCIAL INSTITUTIONS, ETC.
WHΙCH CITY HAS COMPARATIVE ADVANTAGE IN PRODUCING TOURIST SERVICES:
PAPHOS BECAUSE HAS MUCH MORE NATURAL RESOURCE ENDOWMENTS, LARGER CONCENTRATION OF TOURIST INFRASTRUCTURE, LARGER DEMAND THAT ALLOWS GREATER ECONOMIES OF SCALE
ΕΧΕΙ ΠΟΛΎ ΠΕΡΙΣΣΟΤΕΡΟΥΣ ΦΥΣΙΚΟΥΣ ΤΟΥΡΙΣΤΙΚΟΥΣ ΠΟΡΟΥΣΜΕΓΑΛΥΤΕΡΗ ΣΥΓΚΕΝΤΡΩΣΗ ΤΟΥΡΙΣΤΙΣΤΙΚΩΝ ΥΠΟΔΟΜΩΝ, ΜΕΓΑΛΥΤΕΡΗ ΖΗΤΗΣΗ ΟΙ ΟΠΟΙΑ ΕΠΙΤΡΕΠΕΙ ΜΕΓΑΛΥΤΕΡΕΣ ΟΙΚΟΝΟΜΙΕΣ ΚΛΙΜΑΚΑΣ

NICOSIA residents produce €200 FS/HOUR or €100 TS/HOUR
PAFOS residents produce €170 TS/HOUR or €90 FS /HOUR

NICOSIA
OPPORTUNITY COST (ΚΟΣΤΟΣ ΕΥΚΑΙΡΕΙΑΣ)/HOUR OF PRODUCING FS =€100 ts
OPPORTUNITY COST(ΚΟΣΤΟΣ ΕΥΚΑΙΡΕΙΑΣ)/HOUR OF PRODUCING TS=€200 FS

PAPHOS
OPPORTUNITY COST (ΚΟΣΤΟΣ ΕΥΚΑΙΡΕΙΑΣ)/HOUR OF PRODUCING FS=€170TS
OPPORTUNITY COST(ΚΟΣΤΟΣ ΕΥΚΑΙΡΕΙΑΣ)/HOUROF PRODUCING TS=€90 FS

PRODUCTION OF FINANCIAL SERVICES
NICOSIA-OPPORTUNITY COST (ΚΟΣΤΟΣ ΕΥΚΑΙΡΕΙΑΣ)/HOUR OFPRODUCING FS=€100TS
PAPHOS-OPPORTUNITY COST (ΚΟΣΤΟΣ ΕΥΚΑΙΡΕΙΑΣ)/HOUR OF PRODUCING FS=€170TS

WHO HAS COMPARATIVE ADVANTAGE IN THE PRODUCTION OF FINANCIAL SERVICES?
ΠΟΙΟΣ ΕΧΕΙ ΣΥΓΚΡΙΤΙΚΟ ΠΛΕΟΝΕΚΤΗΜΑ ΣΤΗΝ ΠΑΡΑΓΩΓΗ ΧΡΗΜΑΤΟΟΙΚΟΝΟΜΙΚΩΝ ΥΠΗΡΕΣΙΩΝ

NICOSIA WHY? BECAUSE IT HAS LOWER OPPORTUNITY COSTS BY PRODUCING FINANCIAL
SERVICES INSTEAD OF TOURIST SERVICES,NICOSIA RESIDENTS FOREGOE(LOSE ONLY
€100 OF INCOME/HOUR WHILE PAPHOS RESIDENTS FOREGO€
170OF INCOME/HOUR Τ

PRODUCTION OF TOURIST SERVICES
NICOSIA OPPORTUNITY COST (ΚΟΣΤΟΣ ΕΥΚΑΙΡΕΙΑΣ)/HOUR OF PRODUCING TS=€200 FS PAPHOS OPPORTUNITY COST ( ΚΟΣΤΟΣ ΕΥΚΑΙΡΕΙΑΣ) /HOUR OF PRODUCING TS = € 90 FS

WHOHAS COMPARATIVE ADVANTAGE IN THE PRODUCTION OF TOURIST SERVICES
PAPHOS WHY? BECAUSE IT HAS LOWER OPPORTUNITY COSTS BY PRODUCING TOURIST SERVICES INSTEAD OF FINANCIAL SERVICES ,

PAPHOS RESIDENTS FOREGOE ONLY €90 OF INCOME/HOUR WHILE NICOSIA RESIDENTS FOREGO €200 OF INCOME/HOUR

wITHIN THIS CONTEXT NICOSIA RESIDENTS ARE BETTER OFF BY SPECIALISING IN THE PRODUCTION OF FINANCIAL SERVICES AND BUYING TOURIST SERVICES FROM PAPHOS RESIDENTS. IN THE SAME WAY PAPHOS RESIDENTS WILL BE BETTER OFF BY PRODUCING TOURIST SERVICES AND BUYING FINANCIAL SERVICES FROM NICOSIA RESIDENTS

THEREFORE, WHAT DOES THE COMPARATIVE ADVANATAGE ENCOURAGE?
-SPECIALISATION IN THE PRODUCTION OF THE GOODS AND SERVICES IN WHICH THE AREA HAS COMPARATIVE ADVANTAGES
-EXCHANGE OF PRODUCTS AND SERVICES THROUGH TRADE
DOES TRADE AND EXCHANGE BETWEEN TWO CITIES MAKE ALWAYS ECONOMIC SENSE?no. TRADE IS ECONOMICALLY FEASIBLE ONLY IF TRANSPORT AND OTHER EXCHANGE COSTS ARE SMALL IN RELATION TO THE GAIN THAT CAN BE ACHIEVED THROUGH EXCHANGE DUE TO DIFFERENCES IN PRODUCTIVITY.

AN EXTREME EXAMPLE
IF AT THE EXIT FROM THE NICOSIA DISTRICT THERE WAS A TOLL OF €2,000 THERE WOULD BE LOTS OF TRADE BETWEEN NICOSIA AND PAPHOS OR AGIA NAPA?

IN THAT CASE MOST NICOSIA RESIDENTS WOULD NOT BUY TOURIST SERVICES FROM PAPHOS OR AGIA NAPA AND WOULD SPEND THEIR VACATIONS ON THE NICOSIA DISTRICT MOUNTAINS. IN THE SAME WAY, THE RESIDENTS OF PAPHOS WILL BUY FINANCIAL SERVICES.FROM LOCAL COMPANIES, WHICH NOW THEY CAN CHARGE MORE DUE TO THEINCREASED IMPORT COST OF FINANCIAL SERVICES BECAUSE OF THE TOLLS IN THE SAME WAY WE HAVE ECONOMIES OF SCALE IN PRODUCTION WE HAVE ALSO ECONOMIES OF SCALE IN TRADE AND EXCHANGE

WHAT ARE THE ECONOMIES OF SCALE IN TRADE?
THE COST PER CARGO UNIT TRANPORTED DECREASES AS THE TOTAL CARGO INCREASES

WHY ECONOMIES OF SCALE CONTRIBUTE TO THE CREATION OF CITIES?
BECAUSE THEY MAKE THE TRANSPORTATION OF LARGE QUANTITIES MORE ECONOMICAL. THEY ENCOURAGE THE CREATION OF DISTRIBUTION COMPANIES THAT CONCENTRATE, TRANSPORT AND DISTRIBUTE GOODS
WHERE DO THESE DISTRIBUTION COMPANIES WOULD LOCATE
-in TRANSPORTATION HUBS AND LOCATIONS THAT MINIMIZE TRANSPORTATION COSTS TO SEVERAL DESTINATIONS AND CAN OPERATE AS REGIONAL DISTRIBUTION CENTRES (FREEWAY JUNCTIONS, SEA PORTS, ETC.)
HOW THE LOCATION OF THESE TRADING/DISTRIBUTION COMPANIES IN THESE AREAS CREATE CITIES?
DISTRIBUTION COMPANIES LOCATE AT TRANSPORTATION HUBS PEOPLE WORKING IN THESE COMPANIES ARE LOOKING FOR CLOSEBY HOUSING TO REDUCE TRAVEL TIME TO THEIR WORK LAND PRICES CLOSE TO THE TRANSPORTATION COMPANY FACILITIES
INCREASE DUE TO HIGHER PRICES HOUSEHOLDS BUY SMALLER LAND PLOTS CLOSE TO
THEIR WORKPLACE. IN THIS WAY A CONCENTRATION OF POPULATION WITH
HIGHER DENSITY IS CREATED AROUND THE TRANSPORTATION COMPANY FACILITIES

LOWER AVERAGE COST OF PRODUCTION
LARGER QUANTITY OF OUTPUT

INTERNAL ECONOMIES OF SCALE CREATED THROUGH
-SPECIALIZATION OF LABOR IN PERFORMING PARTICULAR TASKS
-THE USE OF INDIVISIBLE INPUTS LIKE REAL ESTATE, EQUIPMENT
AND TECHNOLOGY

THE REALIZATION OF ECONOMIES OF SCALE REQUIRES THE PRODUCTION IN FACTORIES AS OPPOSED TO SMALL SCALE OPERATIONS

BIG CITIES ARE CREATED DUE TO AGGLOMERATION ECONOMIES (ΟΙΚΟΝΟΜΙΩΝ ΚΛΙΜΑΚΑΣ) WHICH ENCOURAGE THE CONCENTRATION OF MANY COMPANIES IN DIFFERENT
INDUSTRIES IN A CITY ΟΙ ΜΕΓΑΛΕΣ ΠΟΛΕΙΣ ΔΗΜΙΟΥΡΓΟΥΝΤΑΙ ΕΞΑΙΤΙΑΣ ΤΩΝ
LARGE CITIES OFFER ECONOMIES OF SCALE( ΣΥΓΚΕΝΤΡΩΣΗΣ) ON TWO LEVELS
ΟΙ ΜΕΓΑΛΕΣ ΠΟΛΕΙΣ ΠΡΟΣΦΕΡΟΥΝ ΟΙΚΟΝΟΜΙΕ
-IN PRODUCTION
-IN COMMERCE

WE HAVE TWO TYPES OF AGGLOMERATION ECONOMIES IN PRODUCTION
ΕΧΟΥΜΕ ΔΥΟ ΤΥΠΟΥΣ ΟΙΚΟΝΟΜΙΩΝ ΣΥΓΚΕΝΤΡΩΣΗΣ ΣΤΗΝ ΠΑΡΑΓΩΓΗ

-LOCALIZATION ECONOMIES
BENEFITS FROM PROXIMITY TO COMPANIES WITHIN THE SAME INDUSTRY

-URBANIZATION ECONOMIES
BENEFITS FROM PROXIMITY TO COMPANIES IN OTHER INDUSTRIES

LOCALIZATION ECONOMIES ARE
REDUCTION OF PRODUCTION COSTS OF COMPANIES WITHIN THE SAME INDUSTRY AS THE OUTPUT OF THE INDUSTRY INCREASES. SUCH LOCALIZATION ECONOMIES ARE CREATED FROM THE PROXIMITY OF ONE FIRM WITH OTHER COMPANIES OF THE SAME INDUSTRY

HOW ARE LOCALIZATION ECONOMIES GENERATED?

-ECONOMIES OF SCALE IN INTERMEDIATE INPUTS
-LABOR MARKET ECONOMIES
-COMMUNICATION ECONOMIES

REQUIREMENTS FOR THE CREATION OF LOCALISATION ECONOMIES

1.THE DEMAND FOR INTERMEDIATE INPUTS FROM JUST ONE COMPANY IS NOT ENOUGH TO ALLOW FOR ECONOMIES OF SCALE IN INTERMEDIATE INPUTS H

2.TRANSPORTATION COSTS ARE HIGH THERE IS NEED FOR FACE-TO-FACE CONTACTS FOR THE PRODUCTION OF THE INTERMEIDATE INPUTS (E.G. HIGH FASHION DESIGNERS)

I NTERMEDIATE INPUTS ARE BULKY, FRAGILE OR NEED TO BE DELIVERED QUICKLY-

OTHER EXAMPLES OF ECONOMIES OF SCALE IN INTERMEDIATE INPUTS
-CLUSTERING OF CORPORATE HEADQUARTERS USUALLY IN CENTRAL BUSINESS
DISTRICTS IN ORDER TO TAKE ADVANTAGE OF ECONOMIES OF SCALE IN THE
PRODUCTION OF INTEREMEDIATE INPUTS, SUCH AS MARKETING, BUSINESS
CONSULTING SERVICES AND LEGAL SERVICES FOR WHICH FACE-TO-FACE
CONTACTS ARE IMPORTANT PART OF THE PRODUCTION PROCESS

HIGH TECHNOLOGY FIRMS FACING UNCERTAIN DEMAND PREFER TO PURHCASE THEIR COMPONENTS FROM COMPANIES THAT CAN EXPLOIT ECONOMIES OF SCALE IN PRODUCTION. IN SUCH CASES, THEY NEED TO LOCATE CLOSE TO THEIR SUPPLIERS OF ON-STANDARDISED INPUTS, BECAUSE THEY NEED TO INTERACT WITH THEM TROUGH FACE
-FACE CONTACTS IN THE DESIGN AND FABRICATION OF THOSE COMPONENTS

LABOUR MARKET ECONOMIES ARE CREATED FROM THE CONCENTRATION OF SPECIALIZED LABOUR IN A PARTICULAR INDUSTRY -LONDON AND NEW YORK HAVE THE LARGEST CONCENTRATIONS OF HIGHLY SKILLLED PROFESSIONALS IN THE FINANCIAL SECTOR WORLDWIDE -IN CYPRUS WHERE DO WE HAVE THE LARGEST CONCENTRATION OF SPECIALISED LABOUR IN THE FINANCIAL SECTOR AND OTHER SERVICES FOR BUSINESSES AND INVESTORS?

LABOUR MARKET ECONOMIES CREATE THE FOLLOWING BENEFITS

1.REDUCTION OF THE SEARCH TIME FOR FINDING SPECIALIZED LABOR BY THE
COMPANIES

2.REDUCTION OF THE TIME AND COST OF FINDNIG A JOB FOR THE EMPLOYEES

3.REDUCTION OF EMPLOYEE MOVING COSTS FROM ONE JOB TO THE OTHER

4.BETTER MATCHING OF LABOUR SKILLS AND COMPANY DEMANDS BECAUSE OF:

a)AVAILABILITY OF MANY SPECIALISATIONS FOR THE COMPANIES THAT ARE LOOKING FOR
LABOUR IN THE PARTICULAR INDUSTRY b)THE EMPLOYEES HAVE MORE EMPLOYMENT OPPORTUNITIES IN THE INDUSTRY OF
THEIR SPECAILISATION AND CAN SELECT THE POSITION THAT BETTER MATCHES
THEIR SKILLS

DIFFUSION OF KNOWLEDGE AND INNOVATION
-WORKERS FROM DIFFERENT COMPANIES EXCHANGE IDEAS ABOUT NEW PRODUCTS, PRODUCTION TECHNIQUES AND PROCESSES IN BOTH FORMAL AND INFORMAL SETTINGS

URBANIZATION ECONOMIES REFER TO BENEFITS THAT ARISE FROM THE
CONCENTRATION OF COMPANIES IN DIFFERENT INDUSTRIES

1.USE OF SAME INFRASTRUCTURE (STREETS, UTILITY NETWORKS) AND SERVICES
FOR EXAMPLE ACCOUNTANTS, LAWYERS, MARKETING COMPANIES, INSURANCE
COMPANIES ETC. SERVE COMPANIES IN MANY INDUSTRIES, NOT JUST ONE
INDUSTRY

2.POSSIBILITY OF TRANSFER OF LABOUR FROM DECLINING INDUSTRIES TO
GROWING INDUSTRIES
THIS MAY NOT WORK IF DURING A RECESSION ALL SECTORS ARE DECLINING

3.BETTER MATCHING BETWEEN DEMAND FOR AND SUPPLY OF LABOUR IN THE CITY AS SOME SPECIALIZATIONS ARE DEMANDED FROM VARIOUS INDUSTRIES
SHOPPING EXTERNALITIES
-INCREASE OF THE SALES OF TWO STORES THAT LOCATE AT THE SAME
LOCATION IN COMPARISON TO THEIR SALES AT SEPARAΤE LOCATIONS

DO YOU REMEMBER ANY RELEVANT EXAMPLE IN OUR DISCUSSION OF THE
FIVE AXIOMS OF URBAN ECONOMICS?
SELF-REINFORCING EFFECTS CREATE EXTREME OUTCOMES. WE SAID THAT THE MOTIVE FOR TOYOTA MOVING CLOSE TO HONDA ISTHAT THEY WOULD HAVE MORE SALES COMPARED TO BEING LOCATEDSEPARATELY
SHOPPING EXTERNALITIES ARE CREATED WHEN THE PRODUCTS SOLD ARE:
-IMPERFECT SUBSTITUTES(ΑΤΕΛΗ ΥΠΟΚΑΤΑΣΤΑΤΑ)
–PRODUCTS THATARE SIMILAR BUT NOT EXACTLY THE SAME AND THEIR PURCHASE
REQUIRES COMPARISON (CLOTHS, SHOES,ETC)
-COMPLEMENTARY GOODS(ΣΥΜΠΛΗΡΩΜΑΤΙΚΑ ΑΓΑΘΑ)
–GOODS THAT ARE OFTEN PURCHASED TOGETHER (WOMENS CLOTHING, SHOES AND BAGS)
SHOPPING EXTERNALITIES AND THE ADVANTAGES OF ONE-STOP-SHOPPING ARE THE MAIN REASONS FOR THE CONCENTRATION OF STORES AT THE SAME LOCATION AND THE EVELOPMENT OF THEDIFFERENT TYPES OF SHOPPING CENTRES
Benefits in households
-INCREASED EMPLOYMENT OPPORTUNITIES FOR BOTH MEMBERS OF A
HOUSEHOLD
-GREATER OPPORTUNITIES FOR LEARNING AND EDUCATION
-MORE SOCIAL AND CULTURAL SERVICES AND ACTIVITIES
-A GREATER VARIETY OF AVAILABLE SERVICES

SUMMARY

THE COMPARATIVE ADVANTAGE OF A CITY CAN BE CREATED BY ITS NATURAL AND OTHER RESOURCES, ITS TECHNOLOGY, THE SIZE OF DEMAND, AND GOVERNMENT POLICIES
COMPARATIVE ADVANTAGE AND TRADE ALLOW FOR SPECIALIZATION ECONOMIES OF SCALE IN TRASNPORTATION ENCOURAGE TRADE AND THE CREATION OF REGIONAL DISTRIBUTION HUBS
ECONOMIES OF SCALE IN PRODUCTION ENCOURAGE LARGE SCALE PRODUCTION IN FACTORIES
AGGLOMERATION ECONOMIES IN PRODUCTION ENCOURAGE THE CONCENTRATION OF FIRMS IN THE SAME INDUSTRY AS WELL AS FIRMS FROM DIFFERENT INDUSTRIES
AGGLOMERATION ECONOMIES IN COMMERCE ENCOURAGE THE CONCENTRATION OF STORES THAT SELL COMPLEMENTARY GOODS AND IMPERFECT SUBSTITUTES |O
ΙΚΟΝΟΜΙΕΣ ΣΥΓΚΕΝΤΡΩΣΗΣ ΣΤΟ ΕΜΠΟΡΙΟ ΕΝΘΑΡΡΥΝΟΥΝ ΤΗ ΣΥΓΚΕΝΤΡΩΣΗ ΤΩΝ ΚΑΤΑΣΤΗΜΑΤΑ ΠΟΥ ΠΩΛΟΥΝ ΠΡΟΪΟΝΤΑ ΣΥΜΠΛΗΡΩΜΑΤΙΚΑ ΚΑΙ ΑΤΕΛΗ ΥΠΟΚΑΤΑΣΤA

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