Question

What is agglomeration of economies? ​

Answer 1

Answer:

The phenomenon where there are many factories located close to each other in one place. This is called agglomeration of economies.

Answer 2

Economies of agglomeration

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.