Question

Explain in detail, what are the important factors to consider when determining the location of an industry / enterprise.​

Answer 1

Answer:

Factors responsible for location of Industries

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.

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Answer 2

The important factors to consider when determining the location of an industry/enterprise are the availability of labor, raw material, taxation system, government policies, etc.

Explanation:

1. For the long-term success of any industry, a number of factors have to be considered while determining its location.
2. The first and most important factor to consider is the availability of raw material and cheap labor. Availability of raw material locally can result in a significant reduction in the cost of transportation of raw materials.
3. Moreover, the taxation system, governmental policies, transportation facilities, etc. should also be considered before setting up an industry.