define the terms 'manufacturing and agglomeration economies'
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AGGLOMERATION ECONOMIES
Agglomeration economies are the benefits that come when firms and people locate near one another together in cities and industrial clusters.
MANUFACTURING
the making of articles on a large scale using machinery; industrial production.
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Manufacturing -:
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Manufacturing is the processing of raw materials or parts into finished goods through the use of tools, human labor, machinery, and chemical processing. Large-scale manufacturing allows for the mass production of goods using assembly line processes and advanced technologies as core assets.
Agglomeration economies -:
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Cities provide markets and also provide services such as banking, insurance, transport, labour, consultants and financial advisors, etc., to the industries. Many industries tend to come together to make use of the advantages offered by the urban centres known as agglomeration economies.
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