Development Economics ECN4169 L, Madumarov Eldar

... developing the ability of a community-based neighborhood organization to effec-tively design economic development strategies through technical assistance, networks, conferences, and workshops.

… the originating and administrating body for the SBA 504 loans. The program provides long-term, fixed-rate financing to small businesses to acquire real estate, machinery, and equipment for the expansion of business or modernization of facilities.

…collocation of firms in the same or similar industries to foster interaction as a means of strengthening each other and enhancing the community’s competitive advantage.

…term used when comparing economies of regions. It is the economic advantage gained by one area over another due to the fact that it can produce a particular product more efficiently. More efficient production of one good means there is a higher opportunity cost to produce another. This is the concept that drives trade between economies. Inter-regional and international trade exploits the comparative advantages of economies. (See Absolute Advantage)

…compares alternative projects or plans to determine the least costly way to achieve desired goals. Usually, some index or point system is developed to measure the effectiveness of the proposal in meeting the goals and objectives.

…a method for evaluating the profitability of alternative uses of resources.