ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ecumene
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diffusion
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agglomeration
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zone of transition
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Detailed explanation-1: -Clustering is the phenomenon whereby firms from the same industry gather together in close proximity. It is particularly evident in industries like banking.
Detailed explanation-2: -The high concentration of enterprises with similar economic activities in the same space causes the phenomenon of industrial agglomeration, which promotes the concentration of economic activities in industrial zones, which provides favorable conditions for the formation of large-scale production and services.
Detailed explanation-3: -Cities provide markets and provide services such as banking, insurance, transport, labour, consultants and financial advice etc. to the industry.
Detailed explanation-4: -Answer: The major industries in the Indian Economy are Iron & Steel, Textiles, Jute, Sugar, Cement, Paper, Petrochemical, Automobile, Information Technology (IT), and Banking & Insurance.