Question

explain any three factors that are important for the establishment of an industry?​

Answer 1

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Natural Resources (coal,lumber)

Labor Supply (immigrant)

Advanced Transportation (railroads)

Labor-Saving Technologies (400,000 patents)

Friendly-Government policies (subsidizing the railroads)

Answer 2

$\textbf{\underline{\underline{Answer:-}}}$

$\textbf{\underline{\underline{Technological\:Development:-}}}$

Technological development plays an important part to influence the industrial productivity. The technological factors include degree of mechanisation, technical know-how, product design, etc. Improvement in any of the technological factors will contribute towards the increase in industrial productivity.

$\textbf{\underline{\underline{Managerial\:Talent:-}}}$

The significance of managerial talent has increased with the advancement in technology. Professional managers are required to make better use of the new technological development

$\textbf{\underline{\underline{Natural\:Factors:-}}}$

The natural factors such as physical, geographical and climatic exercise considerable impact on the industrial productivity.

Thank you ☺

@Swigy

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