ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Industry that can be placed and located at any location without effect from factors of production such as resources, land, labor, and capital.
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Industry that is dependent on access to lots of migratory labor such as picking vegetables and fruit.
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Industry that develops near the entertainment sector of a city.
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Industry that is moved from nation to nation depending on where they can find the cheapest labor and materials.
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Detailed explanation-1: -Answer: A footloose industry is one which is not tied to any particular location or country and can relocate to another place without effect from factors of production such as resources, land, labour, and capital.
Detailed explanation-2: -Footloose industries are those industries which are not dependent on any specific raw material, weight losing or otherwise. they depend on specific component parts which can be obtained anywhere. Such industries are generally non-polluting and produce in small quantity with small labour force.
Detailed explanation-3: -Location: Footloose industries can be established at any place. These industries are affected by component parts and they are available at all places. Less labour force: These industries produce their products in small numbers and they do not require a large labour force.
Detailed explanation-4: -Skilled labour. Easy to transport output. Close to transport location. Runs on electricity. Generally non-polluting. Light, small components. 14-Aug-2022