<span>Economies of Scale. This means as firms produce more their average costs fall. ...Brand Loyaly. Some firms have high degrees of brand loyalty. ...Geographical Barriers. Some Industries are specific to a certain area. ...<span>Patents.
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The escalator was important because during the 1890’s the huge buildings with 20 floors was incredibly difficult for people to walk up on on a daily basis so it was important that they found a solution to that problem
A pure market economy is based on the interaction between the people (who consume the products) and the producers (who create the products). Pure market economy predicts and suspects that the market will regulate itself and that people will have the decisivev say in the prices of things and whether they will be successful.
