In reference to industrial policy,networks of interdependent firms,universities,and businesses that focus on the production of a specific type of good are called:

Question

Quizplus · Accepted Answer

Networks of interdependent firms, universities, and businesses that focus on the production of a specific type of good are referred to as clusters. Clusters are formed when firms within an industry conduct activities in proximity to one another, promoting innovation and efficiency through collaboration and competition. This concept is central to the idea of industrial policy, which aims to promote economic growth by fostering clusters of related industries. Bundles, vertical industries, and integrated industries do not accurately describe this type of network.

In Reference to Industrial Policy,networks of Interdependent Firms,universities,and Businesses That