Question
The most important factor responsible for localization of high-tech firms in silicon Valley of California is ____________.
The correct answer is
Agglomeration Economy
Agglomeration economies explain the cluster: nearby technology firms share a skilled labour pool, specialized suppliers, research links and knowledge spillovers. These benefits encourage further firms to locate in Silicon Valley.
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Important Questions from Indian Economic and Human Geography
- Liberalisation reduced government control over economic activities. What did liberalisation in 1991 primarily aim to eliminate?
- Which sector was given top priority under the Second Five-Year Plan of India (1956-61)?
- Which Indian Prime Minister is closely associated with initiating the 1991 LPG reforms?
- Which union territory has the highest total literacy rate in India?
- All the State Governments except the north-eastern region, imposed ceilings on land holdings in __________.
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