agglomeration economy

American  

[uh-glahm-er-ay-shuhn i-kahn-uh-mee] / əˌglɑm ərˈeɪ ʃən ɪˌkɑn ə mi /

noun

• agglomeration economies
  plural

1. an economy in which many interdependent businesses from different sectors are clustered together in a relatively small area, resulting in lower costs and higher efficiency for all participants.

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Other Word Forms

Noun Inflected Forms

• agglomeration economies
  plural

Example Sentences

See Examples For:

agglomeration economy

If you were an economist, though, you’d call that an agglomeration economy.

From Slate ● Jul. 12, 2019