what is algomeration economics?
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ᴇᴄᴏɴᴏᴍɪᴄs ᴏғ ᴀɢɢʟᴏᴍᴇʀᴀᴛɪᴏɴ ᴏʀ ᴀɢɢʟᴏᴍᴇʀᴀᴛɪᴏɴ ᴇғғᴇᴄᴛs ᴀʀᴇ ᴄᴏsᴛ sᴀᴠɪɴɢs ᴀʀɪsɪɴɢ ғʀᴏᴍ ᴜʀʙᴀɴ ᴀɢɢʟᴏᴍᴇʀᴀᴛɪᴏɴ, ᴀ ᴍᴀᴊᴏʀ ᴛᴏᴘɪᴄ ᴏғ ᴜʀʙᴀɴ ᴇᴄᴏɴᴏᴍɪᴄs. ᴏɴᴇ ᴀsᴘᴇᴄᴛ ᴏғ ᴀɢɢʟᴏᴍᴇʀᴀᴛɪᴏɴ ɪs ᴛʜᴀᴛ ғɪʀᴍs ᴀʀᴇ ᴏғᴛᴇɴ ʟᴏᴄᴀᴛᴇᴅ ɴᴇᴀʀ ᴛᴏ ᴇᴀᴄʜ ᴏᴛʜᴇʀ.ᴛʜɪs ᴄᴏɴᴄᴇᴘᴛ ʀᴇʟᴇᴛᴇs ᴛᴏ ᴛʜᴇ ɪᴅᴇᴀ ᴏғ ᴇᴄᴏɴᴏᴍɪᴄs ᴏғ sᴄᴀʟᴇ ᴀɴᴅ ɴᴇᴛᴡᴏʀᴋ ᴇғғᴇᴄᴛs.
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algomeration economics are the benefits that come when firms and people locate near one another together in cities and industrial clusters
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