![]() ![]() ![]() As a result of these assumptions, locational decisions were explained solely in terms of differences in production and transport costs between sites. Both assumed that entrepreneurs attempted to maximize profits in the face of a given price fixed by the market and outside their control, with perfect knowledge of the cost characteristics of all locations. Location theory originated in the work of Von Thunen and Weber, who developed models of location for firms in an environment of perfect competition. ![]() The main aim of locational theorists has been to integrate the space dimension into conventional economic theory. Read more about how we make money >Ī body of theory which attempts to explain and predict the locational decisions offirms and the spatial patterns ofindustry and agriculture which result from aggregates of the individual decisions. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. Invezz is an independent platform with the goal of helping users achieve financial freedom. ![]()
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