ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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diamonds
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computer chips
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winery
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hotels.com
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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: -Complete answer: Footloose industry is a general term for an industry that can be placed and located at any location. They are not affected from factors like resources or transportation.
Detailed explanation-3: -It means that cotton textile industries do not show any particular affinity for growing up in a certain location. Thus, the cotton textile industry is called a ‘footloose industry’.
Detailed explanation-4: -(b) Sugar, cotton textiles and vegetable oils are footloose industries. (c) The development of hydro-electricity and petroleum reduced, to a great extent, the importance of coal energy as a locational factor for industry.