Industrial Economics

The term “industrial location” refers to

• The process of industrialization

• The geographical site selected for setting up an industry

• The sources of industrial finance

• The policies regulating industries

Who propounded the Theory of Industrial Location based on transport and labor costs?

• Alfred Marshall

• Max Weber

• Sargant Florence

• Adam Smith

Name the raw materials which are available only in a particular area.

• Gross Materials

• Stock

• Ubiquities

• Localized

According to Weber, the two main factors affecting industrial location are

• Capital and Labour

• Transport cost and labor cost

• Government policy and demand

• Land price and technology

Select the option that does not play a major role in deciding industrial location

• Raw materials

• Ubiquities

• Resources

• Capital

Localization of industry helps in:

• Duplication of efforts

• High cost of production

• Development of skilled labor and supporting industries

• Reduction in productivity

An example of industrial localization in India is:

• IT industry in Bengaluru

• Cotton textile industry in Mumbai

• Jute industry in Kolkata

• All of the above

Identify the concept used by Weber to determine industrial location.

• Price index

• Material index

• Wage index

• Weight index

Select the type of labour supply that supports the growth of industries.

• Less

• Large

• Adequate

• Restricted

The difference between location and localization is that

• Location refers to a single unit; localization refers to group of industries

• Location means rural industries; localization means urban industries

• Location is about finance; localization is about technology

• Location applies only to agriculture; localization applies to industry