what are the factors which factors the development of industries
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They include any resource needed for the creation of a good or service. The factors of production include land, labor, capital and entrepreneurship. These production factors are also known as management, machines, materials and labor, and knowledge has recently been talked about as a potential new factor of production.
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The factors are
1) geographical factors :These include land ,climate ,availability of raw materials, means of power in order to reach the market, and also the sources where raw materials are available .
2) No geographical factors : These include government policies ,Capital, Management, banking laber and developed means of transport ,and insurance and ,above all personal preferences of the owners of the industry .
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