Better access to employees and suppliers together with lower transaction costs can be provided through the use of clusters.

Question

Quizplus · Accepted Answer

Clusters, which refer to a geographic concentration of related companies, can facilitate better access to employees and suppliers by bringing together companies and resources in a specific location. This proximity can lead to lower transaction costs, as companies can more easily collaborate and exchange information and goods/services.

Better Access to Employees and Suppliers Together with Lower Transaction