Question on: JAMB Economics - 2014
One major factor that determines the location of an industry is
A
tax exemption grant
B
its proximity to the market
C
the capital base
D
the social responsibility of the firm
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Correct Option: B
The most important factor determining the location of an industry is its proximity to the market. This is because being close to the market minimizes transportation costs, ensures easier access to consumers, and allows for quicker response to market demands.
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