______________ Are Knowledge Spillovers That Occur When Companies in the Same

question 13

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) Synergy
• E) Externalities

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Definitions:

Product Price

The amount of money charged for a product or service, which can be influenced by production cost, supply and demand, and market competition.

Resource

An asset or material that can be used to produce goods or services and achieve economic goals.

Produced

Refers to goods or services that have been manufactured, created, or brought forth through a combination of resources and labor.

Purely Competitive Market

A market structure characterized by a large number of buyers and sellers, homogeneous products, and no single buyer or seller having any control over the market price.