what do you mean by agglomeration economies
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Economies of agglomeration or agglomeration effects are cost savings arising from urban agglomeration, a major topic of urban economics. One aspect of agglomeration is that firms are often located near to each other. This concept relates to the idea of economies of scale and network effects.
many industries tend to come to together to enjoy the benefits given by the urban centers ( according to ncert)
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- One of the central concepts in urban economics
- Meaning : Cost reduction occur because economic activities are located in one place
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