Advantage And Disadvantages of Localization of Industries - SS2 Economics Past Questions and Answers - page 1
1
What is one advantage of localizing industries?
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A
Higher land and property costs
B
Dependence on a single location
C
Access to raw materials
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D
Limited access to specialized inputs
2
What is one disadvantage of localizing industries?
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A
Environmental benefits
B
Access to markets
C
Negative impact on local communities
D
Access to labour
3
Why can localization of industries lead to higher land and property costs?
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A
Because companies need to pay higher taxes.
B
Because companies need to pay for transportation.
C
Because urban areas have limited space.
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D
Because local demand drives up prices.
4
Why can localization of industries limit innovation and competitiveness?
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A
Because it can lead to higher labor costs.
B
Because it can lead to dependence on a single location.
C
Because it can limit access to specialized inputs or technology.
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D
Because it can reduce transportation costs.
5
What is the potential environmental benefit of localizing industries?
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6
Why is it important to carefully consider the potential benefits and drawbacks before localizing an industry?
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