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Planned economies
A system of the production of goods and services, usually consumed or distributed by a government agency, in quantities and at prices determined by government programs.
Secondary activities
The part of the economy involved in the processing of raw materials derived from primary activities; includes manufacturing, construction, power generation.
Manufacturing industries
It is part of the secondary activities where primary goods are being manufactured in industries.
Weber’s least-cost theory
A model that locates three fundamental costs for a buisness which are: transportation, labor and agglomeration.