Which factor plays a most important role in the establishment of an industry?
Answers
Answer:
The basis of category on which industry is going to establish
Answer:
for the establishment of an industry the important factors are:
Explanation:
1. Location- the very first requirement is the terrain or area where the industry is based. it should be close to the local markets for raw material for example. also it can depend on the yield that the certain industry requires such as cold climate or hot climate.
2. Raw material assets- it is important to find out and use the resources as most efficiently and judiciously as you can. to do so a industry should be established with a highly resourceful raw material planning.
3. Labour- these are the people that will bring you either profit if skilled or loss if poorly skilled. The investment is the key to the profits you make with industry. for this you need a cheap as well as hard working, regular labour.
4. Organization- the main purpose of a proper establishment requires legal assets as well as knowledge of one to combine the fields into one and mananging it properly with all.
5. Capital investment- this the money you will require to establish the infrastructure and the machinery for your industry. an investment made in the right manner will attract labour as well as co - ops to join industry with one.
hope you were helped.