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Question

Q. With reference to the footloose industry, which of the following statements are correct?

Select the correct answer using the code given below:


A
2 and 3 only
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B
1, 2 and 3
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C
1 and 3 only
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D
1 and 2 only
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Solution

The correct option is C 1 and 3 only

Explanation:

Statement 1 is correct: Footloose industries are those industries that nearly remain indifferent to locational aspects of raw materials. It can be located in a wide variety of places as it is not dependent on any specific raw material.

Statement 2 is not correct: The footloose industry is not a capital intensive industry. It produces only in small quantities and also employs a small labour force. Products of this industry are smaller in size and so transportation cost is only a small fraction of total cost. The footloose industry usually requires a very small production space, are usually less polluting and require highly skilled workers

Statement 3 is correct: Watch, camera, diamond cutting, precision electronics are examples of footloose industries


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