20 lines
655 B
Markdown
20 lines
655 B
Markdown
|
# Market-Based Economic Structure
|
||
|
|
|
||
|
|
## Definition
|
||
|
|
|
||
|
|
The organisation of economic activities and specialisation patterns that emerge based on market access, transportation costs, and the division of labour. Market-based economic structure varies across regions depending on their geographical advantages and market connectivity.
|
||
|
|
|
||
|
|
## Source Chapter
|
||
|
|
|
||
|
|
Book I, Chapter 3
|
||
|
|
|
||
|
|
## Context
|
||
|
|
|
||
|
|
Smith shows how market-based economic structure differs: coastal areas develop trading economies, river regions support manufacturing and industry, while isolated inland areas maintain subsistence agriculture and limited specialisation.
|
||
|
|
|
||
|
|
## Economic Domain
|
||
|
|
|
||
|
|
General Theory
|
||
|
|
|
||
|
|
---
|