Q. With reference to the footloose industry, which of the following statements is/are correct?
Select the correct answer using the code given below:
Q. With reference to the footloose industry, which of the following statements is/are correct?
Select the correct answer using the code given below:
The correct option is B 1 and 3 only
Explanation:
Statement 1 is correct: Footloose industries are those industries that nearly remain indifferent with 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.
Explanation:
Statement 1 is correct: Footloose industries are those industries that nearly remain indifferent with 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.
