The Importance Of Location

One thing about most discussions of the free market is that they never mention location. It is enough that firms exist; it is presumed that if they offer a good product and a good price consumers will come to them. However, the business world treats this very differently. Great attention is paid to location (there’s even a show named after it) and business people are well aware that a couple of yards can make or break a business. Location changes the way we view competition, instead of focusing on whether or not there is a national monopoly, we should realise that almost all firms are to some extent monopolies in their area. Continue reading “The Importance Of Location”

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