______________ Are Knowledge Spillovers That Occur When Companies in the Same

question 29

Multiple Choice

______________ are knowledge spillovers that occur when companies in the same industry locate in the same area.

• A)Inward overflows
• B)Cognitive overflows
• C)Concentric overflows
• D)Externalities
• E)Synergy

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Definitions:

Pay Flexibility

The ability of an employer to adjust wages based on performance, market conditions, or other factors.

Seniority-Based

A system where decisions regarding layoffs, promotions, and other job-related benefits are made based on the length of time an employee has worked at an organization.

Merit Bonuses

Compensation rewards given to employees based on their performance, as a way to incentivize higher productivity or achievement of certain goals.

Skill-Based Pay

A compensation system that bases employee pay on the skills and knowledge they possess, rather than their job position or title.