In the current economy, it is not surprising that labor costs – a major operational cost component – are ranked as the most important site selection factor by corporate executives.
What is the most important site factor at a global scale Why?
Most important factor on a global scale. – Minimizing labor costs , which vary around the world, is extremely important to some industries. A labor-intensive industry is an industry in which wages and other compensation paid to employees constitute a higher percentage of expenses.
What is the most important site factor for industry?
To answer my question, a social scientist would most likely point to land, labor, and capital. For starters, we need to nail down that maximization of profits is the most important factor when it comes to where to place an industry.
What are the main site factors?
Site factors include landforms, climate, vegetation, availability of water, soil quality, minerals, and wildlife . Examples of site factors include whether an area is protected by mountains or if there is a natural harbor present. Historically, such factors led to the development of major cities worldwide.
What are the 3 site factors?
The three site factors are labor, capital, and land .
What are three reasons cities are attractive locations for factories?
What are three reasons cities are attractive locations for factories? Large supply of labor, Capital sources, and close to market .
What bulk reduce?
Bulk-Reducing Industry. Definition= An industry in which the inputs (materials, etc.) weighs more than the final product . (raw materials weigh more than the final product)
What is the industry site called?
A factory, manufacturing plant or a production plant is an industrial site, usually a complex consisting of several buildings filled with machinery, where workers manufacture items or operate machines which process each item into another is known as industrial sites..
What is a bulk gaining industry?
BULK-GAINING industries are those whose finished products are heavier than inputs (weight is added during production) . The heaviest part of any drink is water. Because water is available everywhere, beverage producers can ship lighter raw ingredients (bottles, syrups) to factories close to population centers (markets).
What is a bulk losing industry?
Definition: An industry in which the final product weighs more or comprises a greater volume than the inputs . ... An industry in which the final product weighs less or comprises a lower volume than the inputs. Example: An example of a bulk reducing industry would be the steps of copper refining.
What are the 7 location factors?
These are influenced by the availability of many factors. Some of them are: raw material, land, water, labor, capital, power, transport, and market . For ease of convenience, we can classify the location factors into two: geographical factors and non-geographical factors.
What is site vs situation?
Site – this is the place where the settlement is located, eg on a hill or in a sheltered valley. Situation – this describes where the settlement is in relation to other settlements and the features of the surrounding area , eg is the settlement surrounded by forest or is it next to a large city?
What is geographic situation?
A Geographic Situation
In geographic terms, a situation or site refers to the location of a place based on its relation to other places , such as San Francisco’s situation being a port of entry on the Pacific coast, adjacent to California’s productive agricultural lands.
What is an example of site?
Frequency: The definition of a site is an area where something is built or to be built or a location where a historic or important event took place. An example of a site is the land you buy where your new house will sit . An example of a site is the location on which a famous military battle was fought.
What is the lowest cost form of transporting goods?
Water transportation is the least expensive and slowest mode of freight transport. It is generally used to transport heavy products over long distances when speed is not an issue.
Why are site and situations important?
why are situation factors important? Factories try to identify a location where production cost is minimized . Critical industrial location costs include situation factors for some firms and site factors for others. ... Attracts industries that need proximity to a large number of consumers that depend on foreign trade.
