_____ refers to the clustering of economic activities in certain locations.
A) Joint venture
B) Agglomeration
C) Expropriation
D) Intrafirm trade

Question

_____ refers to the clustering of economic activities in certain locations.
A) Joint venture 
B) Agglomeration 
C) Expropriation 
D) Intrafirm trade

Quizplus · Accepted Answer

Agglomeration refers to the concentration of economic activities in certain locations, either due to natural factors such as proximity to resources or man-made factors like development policies or transportation infrastructure. This can lead to benefits such as increased productivity and innovation, but also challenges like congestion and competition for resources. Joint venture refers to a partnership between two or more firms, expropriation refers to the government seizure of property, and intrafirm trade refers to the exchange of goods or services between entities within the same company.

_____ Refers to the Clustering of Economic Activities in Certain