ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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outsourcing
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post-Fordism
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market dependence
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back office processing
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agglomeration economies
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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: -Deindustrialization is not a negative phenomenon, but a natural consequence of further growth in advanced economies. The main reason for deindustrialization is the faster growth of productivity in manufacturing than in services.
Detailed explanation-3: -Detailed Solution. The correct answer is Computer Chip. Diamonds, computer chips, and mobile manufacturing are some examples of footloose industries. These are generally non-polluting industries.
Detailed explanation-4: -Which of the following is the primary geographic effect of the globalization of the economy? Production is shifted to low-cost locations in developing countries.