The cost-saving benefits of locating near factors which are external to a firm, such as locally available skilled labour, training, and research and development facilities.
external economies
| Geography Dictionary: external economies |
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 | centripetal forces |
| comparative cost analysis |
| capitalist state |
 | What are externals? Read answer... |
| What is an external? Read answer... |
| What is an externality? Read answer... |
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 | One example of external economy? |
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 | Geography Dictionary. A Dictionary of Geography. Copyright © Susan Mayhew 1992, 1997, 2004. All rights reserved. Read more |
Related answers
- How do externalities affect the economy?
- What are the differences between internal and external economies of scale?
- What is external?
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