Test: Industry and Industrialization - 1 - JAMB MCQ

The location of industry refers to the general region or area where industries are concentrated. It represents the spatial distribution of industries within a country or a specific region.

The main objective of industrial localization is to enhance economic efficiency through the clustering of related industries. By locating similar industries in close proximity, companies can share resources, access specialized labor, and benefit from knowledge spillovers.

The historical significance of a location is not a factor influencing the location of industries in Nigeria. The other options, including availability of skilled labor, proximity to consumer markets, and availability of raw materials, are important factors that impact industrial location decisions.

Lack of entrepreneurship is a problem of industrialization in Nigeria. While Nigeria has abundant natural resources, low population density and a favorable investment climate can actually be advantageous for industrial development.

Foreign direct investment (FDI) involves the transfer of technology from developed countries to developing countries. Foreign companies establish operations in the host country, bringing in new technologies, knowledge, and expertise.

Reduced income inequality is not a potential benefit of industrialization in Nigeria. Industrialization can contribute to increased employment opportunities, enhanced technological capabilities, and diversification of the economy, but its impact on income inequality can vary.

Textiles played a significant role in Nigeria's economic development during the colonial period. The textile industry was one of the key industries that emerged and thrived during that time.

Import substitution. Import substitution is an industrial policy strategy that aims to protect domestic industries from foreign competition by imposing high tariffs and quotas on imported goods. The objective is to promote domestic production and reduce reliance on imported goods.

Industrialization and economic development are mutually reinforcing. Industrialization and economic development have a symbiotic relationship. Industrialization, through the growth of industries and manufacturing, contributes to economic development by creating employment, generating income, and promoting technological progress. At the same time, economic development provides the necessary conditions and resources for industrialization to flourish.

The Nigerian manufacturing sector faces multiple challenges, including limited access to credit and capital (option a), excessive government regulations (option b), and a lack of skilled labor (option c). These challenges can hinder the growth and competitiveness of the sector, requiring appropriate policy measures and interventions to address them.