Definition of Industrial Concept – Plant, Factory, Firm, Industry And Industrial Estate - SS2 Economics Past Questions and Answers - page 1
What is a factory?
A type of plant that produces goods on a large scale
A business organization that produces goods or services for sale
An area where multiple manufacturing or production facilities are located
A facility where raw materials are processed or manufactured into finished products
What is an industry?
A designated area where multiple manufacturing or production facilities are located
A type of plant that produces goods on a large scale
A group of firms that produce similar goods or services
A business organization that produces goods or services for sale
What is a firm?
A type of plant that produces goods on a large scale
A designated area where multiple manufacturing or production facilities are located
A business organization that produces goods or services for sale
A group of firms that produce similar goods or services
What is an industrial estate?
A designated area where multiple manufacturing or production facilities are located
A type of plant that produces goods on a large scale
A group of firms that produce similar goods or services
A business organization that produces goods or services for sale
What is a plant?
A facility where raw materials are processed or manufactured into finished products
A designated area where multiple manufacturing or production facilities are located
A group of firms that produce similar goods or services
A business organization that produces goods or services for sale
What is a steel plant an example of?
A designated area where multiple manufacturing or production facilities are located
A type of plant that produces goods on a large scale
A group of firms that produce similar goods or services
A facility where raw materials are processed or manufactured into finished products
What is the difference between a plant and a factory?
A plant is a facility where raw materials are processed or manufactured into finished products, while a factory is a type of plant that produces goods on a large scale using specialized machinery and assembly lines.
What is the purpose of an industrial estate?
An industrial estate is a designated area where multiple manufacturing or production facilities are located, offering specialized infrastructure and services to support the operations of the businesses located there.
What is an industry defined by?
An industry is defined by a group of firms that produce similar goods or services, based on their products, technologies, or business practices.