Clusters of firms are usually defined as
A) Groups of firms within the same jurisdiction
B) Regional agglomerations of firms that form part of a single company
C) Global groups of firms with complementary products in the same or related industries
D) Regional agglomerations of competing firms and those with complementary products in the same or related industries

Question

Quizplus · Accepted Answer

Clusters of firms are usually defined as regional agglomerations of competing firms and those with complementary products in the same or related industries. This definition highlights the importance of geographic proximity and interdependence among firms in a particular industry or sector. Clusters can facilitate knowledge-sharing, innovation, and supply chain efficiencies, among other benefits.

Clusters of Firms Are Usually Defined as