Which of the following statements is true for a business cluster?
A)It refers to the geographic concentration of business initiatives, suppliers, and associated institutions in a particular field.
B)It refers to the virtual concentration of manufacturers, dealers, and distributors dealing with the same product.
C)It refers to the categorization of countries similar in economic status and dealing with similar financial issues.
D)It refers to the regional concentration of customers who make the same social and cultural references while evaluating products.
E)It refers to a conglomeration of organizations who share cutting-edge technology and latest business practices for mutual benefit.

Question

Quizplus · Accepted Answer

Business clusters refer to the geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field, which can lead to increased productivity and innovation within that sector.

Which of the Following Statements Is True for a Business