ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Location Selection Factors For a company which operates in a global environment; cost, available infrastructure, labor skill, government policies and environment are very important factors. A right location provides adequate access to customers, skilled labors, transportation, etc.

Detailed explanation-2: -1. Market: The triad of close-related factors: market, availability and supply of raw and semi-finished materials, and transport are, of course, of greatest importance in explaining the location of industrial activity anywhere in the world. Most critical of these generally is the market factor.

Detailed explanation-3: -Location Decision General Procedure These factors will differ depending on the type of facility but there will usually be only a few important factors that will greatly impact the decisions. These factors include accessibility of raw materials, proximity to consumers, transportation costs, and space requirements.

Detailed explanation-4: -Casting and molding. Machining. Joining. Shearing and forming.