ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Which of the following is a factor that favors the development of primary economic activities? The presence of natural resources. Why did many cities expand in size during the early twentieth century? Recent advances in transportation allowed for people to travel greater distances to work.

Detailed explanation-2: -Infrastructure availability, quality and reliability, and transport costs also influenced location decisions, as did government-influenced factors such as taxes, exchange rates, investment incentives, promotional activities, training grants, environmental regulations, special economic zones, and trade protection.

Detailed explanation-3: -One can broadly classify five distinct examples of economic activities. These activities are producing, supplying, buying, selling, and the consumption of goods and services.

Detailed explanation-4: -The four essential economic activities are resource management, the production of goods and services, the distribution of goods and services, and the consumption of goods and services.

Detailed explanation-5: -Economic Geography investigates the diversity in basic resources of the different parts of the world. It tries to evaluate the effects that differences of physical environment have upon the utilization of these resources. It studies differences in economic development in different regions or countries of the world.