Geographically concentrated firms that compete and trade with each other and have similar needs are called?

Question

Quizplus · Accepted Answer

Clusters refer to groups of interconnected companies and institutions in a specific field, located near each other geographically. They compete but also cooperate, benefiting from close proximity by sharing resources, information, and innovation, leading to increased productivity and competitiveness.

Geographically Concentrated Firms That Compete and Trade with Each Other