Business Commons^™

The Spatial Nature Of Entrepreneurship, Economic Prosperity And, The Informal Economy, Besnik Skenderi, Diamanta Skenderi

UBT International Conference

Businesses are not refining products and they are not adding any value on the sold products, but they are using the opportunity to purchase goods with lower price and then sell those products with a higher price, where the difference between those prices is profit. In addition, knowledge is an important factor, which explains the arrays of known profit opportunities, which entrepreneurs face, and those opportunities are not equally discoverable in all locations. The issue with classical and neoclassical models of land rent is a fact that they were based on an assumption where perfect knowledge of transportation requirements and …