ECONOMICS
ECONOMIC DEVELOPMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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government subsidies.
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raw materials
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water transportation.
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labor markets.
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Detailed explanation-1: -– The farther something is transported, the higher the costs, so a manufacturer tries to locate its factory as close as possible to its inputs and markets.
Detailed explanation-2: -The development of the steam engine transformed this need, allowing businesses to locate their factories near urban centers. These factories encouraged more and more people to move to urban areas where jobs were plentiful, but hourly wages were often low and the work was routine and grindingly monotonous.
Detailed explanation-3: -The northeastern United States, excluding northern New England, is the country’s single most significant region of manufacturing. This region is loosely defined on three sides by the Ohio River Valley, Megalopolis, and the southern Great Lakes.
Detailed explanation-4: -Interchangeable parts. Product moves from worker to worker, as each one performs a step in the manufacturing process. With this division of labor, workers can make many items quickly. Assembly line.