|
Economies Of Density
In microeconomics, economies of density are cost savings resulting from spatial proximity of suppliers or providers. Typically higher population densities allow synergies in service provision leading to lower unit costs. If large economies of density exist there is an incentive for firms to concentrate and agglomerate. Typical examples are found in logistic systems where the distribution or collection of goods is needed, such as solid waste management. Delivering, for instance, mail in an area with many postboxes results in overall cost savings and thus lower delivery costs. Different network infrastructures such as electricity or gas networks show as well economies of density. Economies of density are not to be confused with economies of scale where unit costs are not linked to spatial properties. See also * Economies of scale * Economies of scope * Network effects * Economies of agglomeration One of the major subfields of urban economics, economies of agglomeration (o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomics
Microeconomics is a branch of economics that studies the behavior of individuals and Theory of the firm, firms in making decisions regarding the allocation of scarcity, scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the economy as a whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce Economic efficiency, efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the total of economic activity, dealing with the issues of Economic growth, growth, inflation, and unemployment—and with national policies relati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost
Cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production. More generalized in the field of economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ..., cost is a metric that is totaling up as a result of a process ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Population Density
Population density (in agriculture: Standing stock (other), standing stock or plant density) is a measurement of population per unit land area. It is mostly applied to humans, but sometimes to other living organisms too. It is a key geographical term.Matt RosenberPopulation Density Geography.about.com. March 2, 2011. Retrieved on December 10, 2011. Biological population densities Population density is population divided by total land area, sometimes including seas and oceans, as appropriate. Low densities may cause an extinction vortex and further reduce fertility. This is called the Allee effect after the scientist who identified it. Examples of the causes of reduced fertility in low population densities are: * Increased problems with locating sexual mates * Increased inbreeding Human densities Population density is the number of people per unit of area, usually transcribed as "per square kilometre" or square mile, and which may include or exclude, for example, ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Cost
The unit cost is the price incurred by a company A company, abbreviated as co., is a Legal personality, legal entity representing an association of legal people, whether Natural person, natural, Juridical person, juridical or a mixture of both, with a specific objective. Company members ... to produce, store and sell one unit of a particular product. Unit costs include all fixed costs and all variable costs involved in production. Cost unit is a form of measurement of volume of production or service. Cost unit vs unit cost Cost unit is the standard unit for buying the minimum of any product. Unit cost is the minimum cost for buying any standard unit. References {{Business-term-stub Costs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Logistics
Logistics is the part of supply chain management that deals with the efficient forward and reverse flow of goods, services, and related information from the point of origin to the Consumption (economics), point of consumption according to the needs of customers. Logistics management is a component that holds the supply chain together. The resources managed in logistics may include tangible goods such as materials, equipment, and supplies, as well as food and other edible items. In military logistics, it is concerned with maintaining army supply lines with food, armaments, ammunition, and spare parts apart from the transportation of troops themselves. Meanwhile, civil logistics deals with acquiring, moving, and storing raw materials, semi-finished goods, and finished goods. For organisations that provide Waste collection, garbage collection, mail deliveries, Public utility, public utilities, and after-sales services, logistical problems must be addressed. Logistics deals with t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Waste Management
Waste management or waste disposal includes the processes and actions required to manage waste from its inception to its final disposal. This includes the collection, transport, treatment, and disposal of waste, together with monitoring and regulation of the waste management process and waste-related laws, technologies, and economic mechanisms. Waste can either be solid, liquid, or gases and each type has different methods of disposal and management. Waste management deals with all types of waste, including industrial, chemical, municipal, organic, biomedical, and radioactive wastes. In some cases, waste can pose a threat to human health. Health issues are associated with the entire process of waste management. Health issues can also arise indirectly or directly: directly through the handling of solid waste, and indirectly through the consumption of water, soil, and food. Waste is produced by human activity, for example, the extraction and processing of raw mater ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of Productivity, output produced per unit of cost (production cost). A decrease in unit cost, cost per unit of output enables an increase in scale that is, increased production with lowered cost. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of Market (economics), market control. Economies of scale arise in a variety of organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Scope
Economies of scope are "efficiencies formed by variety, not volume" (the latter concept is "economies of scale"). In the field of economics, "economies" is synonymous with cost savings and "scope" is synonymous with broadening production/services through diversified products. Economies of scope is an economic theory stating that average total cost (ATC) of production decrease as a result of increasing the number of different goods produced. For example, a gas station primarily sells gasoline, but can sell soda, milk, baked goods, etc. and thus achieve economies of scope since with the same facility, each new product attracts new dollars a customer would have spent elsewhere. The business historian Alfred Chandler argued that economies of scope contributed to the rise of American business corporations during the 20th century. Economics The term and the development of the concept are attributed to economists John C. Panzar and Robert D. Willig (1977, 1981). Their 1981 article n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Network Effects
In economics, a network effect (also called network externality or demand-side economies of scale) is the phenomenon by which the value or utility a user derives from a good or service depends on the number of users of compatible products. Network effects are typically positive feedback systems, resulting in users deriving more and more value from a product as more users join the same network. The adoption of a product by an additional user can be broken into two effects: an increase in the value to all other users (''total effect'') and also the enhancement of other non-users' motivation for using the product (''marginal effect''). Network effects can be direct or indirect. Direct network effects arise when a given user's utility increases with the number of other users of the same product or technology, meaning that adoption of a product by different users is complementary. This effect is separate from effects related to price, such as a benefit to existing users resulting fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Agglomeration
One of the major subfields of urban economics, economies of agglomeration (or agglomeration effects), explains, in broad terms, how urban agglomeration occurs in locations where cost savings can naturally arise. This term is most often discussed in terms of economic firm productivity. However, agglomeration effects also explain some social phenomena, such as large proportions of the population being clustered in cities and major urban centers. Similar to economies of scale, the costs and benefits of agglomerating increase the larger the agglomerated urban cluster becomes. Several prominent examples of where agglomeration has brought together firms of a specific industry are: Silicon Valley and Los Angeles being hubs of technology and entertainment, respectively, in California, United States along with London, United Kingdom, being a hub of finance. Economies of agglomeration have some advantages. As more firms in related fields of business cluster together, their production ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regional Economics
Regional economics is a sub-discipline of economics and is often regarded as one of the fields of the social sciences. It addresses the economic aspect of the regional problems that are spatially analyzable so that theoretical or policy implications can be the derived with respect to regions whose geographical scope ranges from local to global areas. Regional Economics: refer to the economic advantage of a geographical location and human activities of greatest height to contribute maximally to the general growth and prosperity of the region. Origins Regional economics has shared many traditions with regional science, whose earlier development was propelled by Walter Isard and some economists' dissatisfaction with the existing regional economic analysis. Despite such a rather critical view of regional economics, however, it is hard to be denied that the "economic" approach to regional problems was and has been the most significant one throughout the development of regional scienc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
