Which industry is known as footloose industry?
Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors of production such as resources, land, labour, and capital. Diamonds, computer chips, and mobile manufacturing are some examples of footloose industries.
What is the difference between footloose and ubiquitous industries?
Hi-tech industries like computing and diamond manufacturing is an example of footloose productions. Consequently, Ubiquitous industry is a term that refers to industries that are market-oriented in a central place but can function everywhere in a way that they are omnipresent.
What are footloose companies?
The footloose companies are those that have relatively few constraints when making location decisions. In this paper they are classified into four categories: company headquarters, high technology, research and development, and services.
What is a ubiquitous industry?
What Does Ubiquitous Mean? In business, something that is ubiquitous is widely adopted and can be found nearly everywhere. Many types of technology and best practices are ubiquitous in business, meaning that all companies use them and they are not a source of competitive advantage.
What is basic industry?
basic industry. noun [ C ] PRODUCTION, ECONOMICS. a type of industry that produces materials that are supplied to other industries, and which is important in a country’s economy: basic industries such as mining, oil, and gas.
What are non basic jobs?
Non-basic employment are essentially jobs that service the local community. Jobs such as retail, local banking, and service based sectors (teachers, firefighters, etc.) keep the dollars within the community, but don’t bring in anything from outside.
What is basic and non basic industry?
Basic and non-basic are the two broad industry categories. Basic industries consist of small and large businesses that sell primarily to external customers. Non-basic industries consist of primarily small businesses that sell to local customers, including basic and non-basic businesses.
What is the basic non basic ratio?
Base Ratio. The ratio between workers employed in the basic sector and those employed in the non-basic sector. An urban area which has grown a lot usually has a larger ratio of non-basic workers because the city takes more workers to supports its growth. Basic Sectors.
Why have LDCs been attracted to back offices?
Why have LDCs been able to attract back offices? Industries thats sell their products or services primarily to consumers outside the settlement. New basic industries attract new workers to a settlement who then bring their families with them. Then the settlement attracts additional consumer services.
Is mining a basic industry?
Primary industries are those that harvest or extract raw material from nature, such as agriculture, oil and gas extraction, logging and forestry, mining, fishing, and trapping.
What are the 6 primary industries?
The six primary industries are agriculture (corn), fishing and trapping (salmon) , mining (coal) , water, fuel and energy (electricity) , and logging and forestry (oak).