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Consider the following statement about the footloose industry.
1. The industry that can be placed at any location without being affected by factors like resources or transport.
2. These industries often have spatially fixed costs.
3. They generally depend on raw materials that are light and can be easily transported from another place.
4. These industries include computer chips, retail, entertainment etc.
Which of the above statements are correct?
  • a)
    1, 2 and 3 Only
  • b)
    2, 3 and 4 Only
  • c)
    1, 2 and 4 Only
  • d)
    All of the above
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Consider the following statement about the footloose industry.1. The i...
Foot loose industry I an industry that is not tied to any particular location or country, and can relocate across national borders in response to changing economic conditions. Many manufacturing industries seem to have this characteristic
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Most Upvoted Answer
Consider the following statement about the footloose industry.1. The i...
The Correct Answer is Option A: 1, 2 and 3 Only

Explanation:
The footloose industry refers to an industry that can be placed at any location without being affected by factors like resources or transport. Let's analyze each statement to determine which ones are correct:

1. The industry that can be placed at any location without being affected by factors like resources or transport.
This statement is correct. Footloose industries are not bound by the availability of resources or the need for specific transportation facilities. They have the flexibility to establish their operations in different locations based on other factors such as market demand, labor availability, and infrastructure.

2. These industries often have spatially fixed costs.
This statement is correct. Spatially fixed costs refer to costs that do not vary with the location of the industry. Footloose industries typically have higher fixed costs, such as investment in technology, research and development, marketing, and administrative expenses. These costs remain the same regardless of the industry's location.

3. They generally depend on raw materials that are light and can be easily transported from another place.
This statement is correct. Footloose industries rely on raw materials that are light in weight and can be easily transported from one place to another. This allows them to establish their operations in locations that may not have direct access to the required raw materials but can import them from other areas.

4. These industries include computer chips, retail, entertainment, etc.
This statement is incorrect. While computer chips, retail, and entertainment can be considered footloose industries, the statement does not specify that these are the only industries included. Footloose industries can encompass various sectors, including technology, services, manufacturing, and more.

In conclusion, based on the analysis of each statement, the correct answer is option A: 1, 2, and 3 Only.
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Consider the following statement about the footloose industry.1. The industry that can be placed at any location without being affected by factors like resources or transport.2. These industries often have spatially fixed costs.3. They generally depend on raw materials that are light and can be easily transported from another place.4. These industries include computer chips, retail, entertainment etc.Which of the above statements are correct?a)1, 2 and 3 Onlyb)2, 3 and 4 Onlyc)1, 2 and 4 Onlyd)All of the aboveCorrect answer is option 'A'. Can you explain this answer?
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Consider the following statement about the footloose industry.1. The industry that can be placed at any location without being affected by factors like resources or transport.2. These industries often have spatially fixed costs.3. They generally depend on raw materials that are light and can be easily transported from another place.4. These industries include computer chips, retail, entertainment etc.Which of the above statements are correct?a)1, 2 and 3 Onlyb)2, 3 and 4 Onlyc)1, 2 and 4 Onlyd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statement about the footloose industry.1. The industry that can be placed at any location without being affected by factors like resources or transport.2. These industries often have spatially fixed costs.3. They generally depend on raw materials that are light and can be easily transported from another place.4. These industries include computer chips, retail, entertainment etc.Which of the above statements are correct?a)1, 2 and 3 Onlyb)2, 3 and 4 Onlyc)1, 2 and 4 Onlyd)All of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statement about the footloose industry.1. The industry that can be placed at any location without being affected by factors like resources or transport.2. These industries often have spatially fixed costs.3. They generally depend on raw materials that are light and can be easily transported from another place.4. These industries include computer chips, retail, entertainment etc.Which of the above statements are correct?a)1, 2 and 3 Onlyb)2, 3 and 4 Onlyc)1, 2 and 4 Onlyd)All of the aboveCorrect answer is option 'A'. Can you explain this answer?.
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