A(n) ________ is the advantage of locating a particular economic activity in a specific location because of the characteristics of that location.
A) industry advantage
B) production advantage
C) comparative advantage
D) location advantage

Question

Quizplus · Accepted Answer

A location advantage is the advantage use of the attributes of a specific location due to factors such as proximity to resources or customers, accessibility, infrastructure, labor force, and government policies. It helps businesses to achieve cost savings, increase efficiency, and improve competitiveness. Industry advantage refers to the advantage gained by an industry in a particular location due to factors such as technology, knowledge, and skills, while production advantage refers to an advantage in producing goods or services efficiently. Comparative advantage is a broader concept that refers to a country's ability to produce goods or services at a lower opportunity cost than another country.

A(n) ________ Is the Advantage of Locating a Particular Economic