The initial locational advantage of a place for economic activity often spirals into a continuous buildup...

The initial locational advantage of a place for economic activity often spirals into a continuous buildup of advantages that attract people and investment to that place. This effect is called:

Expert Solution

This effect is generally known as cumulative causation

Effect in macroeconomics was proposed by Myrdal in 1956. According to this theory core variables and linkages attached to them are delineated in the sense that if there is a change in one of the variable or institution, there will be a successive change in other institutions. This causes the spiral and a continuous process in which investment in people are attracted towards the initial linkage.

Rahul Sunny answered 2 years ago

Why do interpreters of Adam Smith often think that he equates economic activity with selfish behavior,...

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Discussion Assignment: Compare and contrast Comparative Advantage with Absolute Advantage. Do these have a place in...

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An advantage that often comes with a basic knowledge of statistics is a change in salary.

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Suppose that the total benefit and total cost from a continuous activity are, respectively, given by...

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research about the advantage and disadvantage of all different economic system

Consider a continuous phenotypic trait with an initial average value of 5. In the next generation,...

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