ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a bulk reducing industry
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a telecom industry
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a footloose industry
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an ubiquitous industry
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Detailed explanation-1: -Some prominent examples of the footloose industry are watch-making, diamond cutting, precision electronics etc. The key characteristics of a footloose industry are: These are less dependent on specific raw material, Most of the raw materials are small and light and can be transported easily.
Detailed explanation-2: -Detailed Solution. The correct answer is the Iron & Steel Industry.
Detailed explanation-3: -Diamonds and Electronics industries are some examples of footloose industries.
Detailed explanation-4: -Footloose Industry They are usually light industries, as their resource materials are light and easy to transport. Most modern industries are footloose because: Improved infrastructure, roads and travel allow for better movement of Industrial products over a long distance.