ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a steel mill
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an auto assembly plant
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a university
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a real estate office
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an aluminum smelter
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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: -Diamonds, computer chips, and mobile manufacturing are some examples of footloose industries. These are generally non-polluting industries.
Detailed explanation-3: -The North American copper industry is a good example of locating near the raw material source. Copper concentration is a bulk-reducing industry; the final product weighs less than the inputs. Two-thirds of U.S. copper is mined in Arizona so most of the concentration mills and smelters are also in Ari-zona.
Detailed explanation-4: -Maquiladoras-a type of Export Processing Zone that were meant to replace the state’s dying agro-based economy-arrived to the region in the 1980s and grew exponentially between the 1990s-2000s.