Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What does it take to grow an industrial cluster from scratch? What are the main impediments that must be overcome? Does the government have a

What does it take to grow an industrial cluster from scratch? What are the main impediments that must be overcome? Does the government have a role to play, or not? Again, answer by reference not only to the Jamaican music business but also other examples.

Student must explain how the growth of an industrial cluster comes through the following

(including but not limited to) five factors while stating examples of such using Jamaica or any other ex ample that they may be aware of 10 MARKS

collaboration and availability of shared resources

investment

Disruption and Innovation

Close proximity to resources

Collaboration with Government

Student must state 5 of the following impediments. Offer a valid reason for each 10 MARKS

Lack of sophistication of human resources

Competing products and services from overseas

Underpricing of labour

Threats from vertically integrated competitors

Not evolving into utilizing specialist businesses to support the cluster

Being too slow to adapt to or lobby for protective and supportive legislation

Student must explain, with examples, that government s role is important through

protectionism/standardization but most importantly the creation of demand 5 MARKS

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Economics Theory and Policy

Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz

9th Edition

978-0132146654, 0132146657, 9780273754091, 978-0273754206

More Books

Students also viewed these Economics questions

Question

Do agency funds have a net fund balance? Why or why not?

Answered: 1 week ago