ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a customer-service representative who handles phone calls
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the chief executive for a large corporation
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an assembly worker in the auto industry
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an accountant who handles the company’s payroll
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a writer who works on marketing materials
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Detailed explanation-1: -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-2: -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-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: -The mechanism is called EPZ is some countries, while it can also be called Free Trade Zone (FTZ), Special Economic Zone (SEZ) and maquiladora, such as found in Mexico.