What are the 7 location factors for industry? Check Answer at BYJU’S (2024)

FAQs

What are the 7 location factors for industry? Check Answer at BYJU’S? ›

The 7 factors which influence the decision of establishing an industry are: availability of raw materials, labour, capital, access to markets, availability of abundant power supply, modes of transportation like railways, roadways for transportation of finished goods, and raw materials; and availability of land.

The seven location factors that affect an industry are the availability of raw materials, labour, capital, market access, a plentiful supply of electricity, modes of transportation like railroads and roads for the transport of finished goods and raw materials, and the availability of land.

Industrial locations are complex in nature. These are influenced by the availability of many factors. Some of them are: raw material, land, water, labor, capital, power, transport, and market. For ease of convenience, we can classify the location factors into two: geographical factors and non-geographical factors.

Answer: The main factors guiding the location of these industries are resource availability, cost and infrastructure. c. Bengaluru has largest number of educational institutions and IT colleges that provided for skilled and trained manpower for the IT industry.

Location of industry is the geographical spread of economic activity within an economy. However, multitude of factors influence the location decisions of firms and industries, including proximity to raw material supplies, availability of labour, good communications and nearness to markets.

Three human factors which affect the industrial location are availability of cheap labour, availability of services such as consultants and financial advice and availability of market. Was this answer helpful? Name any three physical factors for the location of the industry.

Several natural resources, such as water, are ubiquitous (available everywhere), while many production inputs such as labor, fuel, and minerals, are available at specific locations. According to Weber, three main factors influence industrial location; transport costs, labor costs, and agglomeration economies.

There are many supply and demand factors that affect location decisions including labor costs, land costs, energy and transport costs, customer convenience, labor skills, site suitability, and image.

What factors influence the location of high tech industry? ›

High-tech employees are often very selective when it comes to where they are prepared to live and work. An environmentally attractive location (good climate, landscape, housing, services, etc.) is essential to hiring the right kind of labour (see Table above). Companies must therefore go to where workers want to live.

The general critical factors of an industrial location for the information technology sector are manpower, technology, and industrial site, as well as social, hedonistic, economic and governmental factors.

Bengaluru has become a major IT centre because of its pleasant climate good transportation facilities highly trained professionals and progressive government policies.

The factors affecting the location of industries are the availability of raw material, land, water, labour, power, capital, transport and market.

The factors of production are the inputs used to produce a good or service in order to produce income. Economists define four factors of production: land, labor, capital and entrepreneurship.

Three human factors which affect the industrial location are availability of cheap labour, availability of services such as consultants and financial advice and availability of market. Was this answer helpful?

Industrialization can be driven by a combination of factors including government policy, labor-saving inventions, entrepreneurial ambitions, and a demand for goods and services. It has profound implications for the population, causing a wave of migration from small farms to cities and towns where jobs can be found.

The manufacturing process is a complex one that can be impacted by many factors: supplies, equipment, factory overhead, the need for special parts, and the people who work at all points in the process. The more variables there are, the greater the possibility of disruption to the smooth operations of a factory.