Question

What is agglomeration economy? How so industry from it?

Answer 1

One aspect of agglomeration is that firms are often located near to each other. ... Even when competing firms in the same sectorcluster, there may be advantages because the cluster attracts more suppliers and customers than a single firm could achieve alone. Cities form and grow to exploit economies of agglomeration.

Answer 2

Explanation:

$\huge\green{QUESTION}$

What is Agglomeration economy?

$\huge\blue{ANSWER}$

A localized economy in which a large number of companies, services, and industries exist in close proximity to one another and benefit from the cost reductions and gains in efficiency that result from this proximity

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