Beyond geographic advantages, location-specific advantages arising from the clustering of economic activities in certain countries are referred to as:
A) Joint ventures
B) Agglomeration
C) Dominant areas
D) Desired marketing locations

Question

Quizplus · Accepted Answer

The term used to describe location-specific advantages that arise from the clustering of economic activities in certain countries is agglomeration. The term agglomeration refers to the clustering of economic activities in certain countries, leading to location-specific advantages beyond just geographic advantages. This is due to the concentration of skilled labor, specialized suppliers, and other factors that create a positive feedback loop, resulting in lower costs and higher productivity. Choices A, C, and D are not accurate definitions of this concept.

Beyond Geographic Advantages, Location-Specific Advantages Arising from the Clustering of Economic