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Does the Location of Industries matters ?
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[QUOTE="Mataracy, post: 117768, member: 28733"] All industrialists have one thing in mind - to profit from their investment. Before a producer makes a decision on where to site his plant, he considers his costs and weigh them against his benefits. Locational factors associated with various sites are important to him since these factors will influence his costs and increase or diminish his total benefits. He will consider the ease of obtaining fuel or power, raw materials and labour, his market prospects, and the transportation costs for his finished goods. Only after he has weighed all the locational factors of the different sites should he decide to build on any particular one. The follow are factors that influence the location of an industry in a given area. POWER SUPPLIES This modern industries require a lot of power for their operation. Coal,gas,electricity abs recently,solar energy ,are the motive force behind the machines. RAW MATERIALS Some industries are set up bear their sources of raw materials. Thevraw materials that attract industries to themselves are those referred to as " weight-losing". LABOUR SUPPLY Some industries care termed " Labours attracted industries". Thus means the industries have tendency to be located where labour us available .This happens wherevsjilled labour is difficult to attract awayvfrom the existing centres of production. MARKET Some industries are set up near the markets fie the finished goods. These are called "market-oriented industries". TRANSPORT Transport cost exercises an important influence on the location of industries, because to minimize transport cost is to reduce cost of production and distribution and thus, increase benefits. INDUSTRIAL INERTIA New industries tend to be establish in traditional sites or areas where other industries have grown. This is because of external economies enjoyed by the industries. FOOT-LOOSE INDUSTRIES Some. industries are nucknamed " foot-loose" because they can be set up any where without their costs being materually affected.This means that such industries have no overriding advantage in being located near material supplies,market production centres or labour supply. The question is that; is the location of industries matters? [/QUOTE]
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