New industrial districts are an example of one of the flexible production systems that have come to the fore since the 1970s. What is their major economic feature?

Question

Quizplus · Accepted Answer

New industrial districts, also known as agglomerations, are based on the economic principle of agglomeration economies, where firms benefit from being close to each other and sharing common resources such as infrastructure, labor, and knowledge.

New Industrial Districts Are an Example of One of the Flexible