Economic benefits derived from locating production activities in optimal locations are known as ________.

Name: Economic benefits derived from locating production activities in optimal locations are known as ________.
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

Location economies refer to the cost savings that result from locating production activities in regions where certain factors are optimal, such as cheaper labor, access to raw materials, or favorable tax laws. The other choices listed are not commonly used terms in economics.

Economic Benefits Derived from Locating Production Activities in Optimal Locations