ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An example of a single-market manufacturer is a producer of buttons, zippers, clips, pins, or other specialized components attached to clothing. The makers of parts for motor vehicles are another example of specialized manufacturers with only one or two customers.

Detailed explanation-2: -Because it costs more to transport something the heavier it is (as a general rule) “bulk-reducing industries” usually have their manufacturing centers close to the sources of raw materials, whereas “bulk-gaining industries” usually have their manufacturing centers close to the source of various large markets.

Detailed explanation-3: -Land is a strictly fixed factor of production. Obviously, the quantity of land in existence will always remain the same and no human power can alter that. This means that no amount of change in demand can change the supply of land.

Detailed explanation-4: -Bulk-gaining industries make products that weigh less after assembly, than before assembly; bulk-reducing industries make products that weigh more after assembly, than before assembly.