Studied by 3 peopleHotelling
Who created the mode of spatial competition model?
Losch
Who created the zone of profitability
Hotelling’s theory
Locational interdependence is another term for___________
Spinning wheels, water wheels
Energy sources in the industrial revolution
coal
New energy source after industrial revolution
Steam engine, water pumps, railroads
new inventions from industrial revolution
James Watt
who created the steam engine?
Matthew Boulton
Who improved the steam engine
Transportation, Labor, + Agglomeration
What are the 3 categories of cost?
Friction of distance
Time and cost increases with distance
Weber’s Model
Companies gauge where production and agglomeration cost will be the least and where they can earn the most profit
Variable costs
Energy supply, labor, transport, expenses
Location theory
predicting where business with be located
Zone of Profitability
Choosing where you can maximize profit
made my Losch
Mode of spatial competition
putting your business near a competing business in order to limit their territory
Made by Hotelling
Weber
Who created location theory?
Note
Flashcard