What are the basic requirements for setting up any modern industry?
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Answered by
50
The basic requirements for setting up any modern industry are -
1. Land -
Land includes all natural resources which are obtained from Land. Example - coal, metals, fruits & vegetables, foodgrains etc.
2. Labour -
Labour includes all kinds of physical and mental labour involved in production. It also includes work done at all levels, directly or indirectly.
3. Capital -
No modern industry can be setup without funds, either owned or borrowed from sources like Banks, Finance companies etc.
4. Entrepreneurship -
Enterpreneur is the centre for establishing an industry. It can be a individual or a group of people involved in an economic activity for earning profit.
1. Land -
Land includes all natural resources which are obtained from Land. Example - coal, metals, fruits & vegetables, foodgrains etc.
2. Labour -
Labour includes all kinds of physical and mental labour involved in production. It also includes work done at all levels, directly or indirectly.
3. Capital -
No modern industry can be setup without funds, either owned or borrowed from sources like Banks, Finance companies etc.
4. Entrepreneurship -
Enterpreneur is the centre for establishing an industry. It can be a individual or a group of people involved in an economic activity for earning profit.
Answered by
10
Solution:
There are certain pre-requisites which have to be fulfilled for setting up any industries.
These include the availability of labor, water supply, electricity supply, transport system, effective communication system and so on.
Apart from this, availability of the raw materials is the most essential factor which has to be keenly considered.
There are certain pre-requisites which have to be fulfilled for setting up any industries.
These include the availability of labor, water supply, electricity supply, transport system, effective communication system and so on.
Apart from this, availability of the raw materials is the most essential factor which has to be keenly considered.
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