Consider the following statements with refrence to Foot Loose Industries 39 1 They can be situated i...........

Geography Industry

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Consider the following statements with refrence to Foot Loose Industries':

1. They can be situated in a wide variety of places.

2. They produce in small quantity and also employ a small labor force.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 Nor 2

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Explanation:

Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors of production such as resources, land, labour, and capital. These industries often have spatially fixed costs which means that the costs of the products do not change despite where the product is assembled.

By: ANIVESH KUMAR

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Navneet Kaur

2nd statement won’t justify IT as footloose industry

Dr. Aashish Singh

Industries related to IT, mobile manufacturing, cycle making, automobile making employ large labor and produce in large quantity. So statement 2 should be wrong.