Admin What factors influence the location of economic activities?
Terms in this set (8)
- Location factors. The needs of the activity, e.g. space (most often land), raw materials or labour (workers) etc.
- Commercial farming.
- Supply.
- Accessibility.
- Sphere of influence.
- Decentralisation.
- High-tech industries.
- Central Business District (CBD)
What are the three main factors that affect the economic development of a country?
Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology. Highly developed countries have governments that focus on these areas.
What are four economic activities?
The four essential economic activities are resource management, the production of goods and services, the distribution of goods and services, and the consumption of goods and services. As you work through this book, you will learn in detail about how economists analyze each of these areas of activity.
What are the factors that affect urban economic activities?
On this page, we look at the factors affecting the pattern of urban economic activities (retail, commercial, industrial), including physical factors, land values, proximity to a central business district (CBD) and planning. Admiralty shopping centre, Hong Kong.
What do you mean by factors affecting the location of industry?
A ‘factor’ is something that influences something else. The sentence ‘factors affecting the location of industry’ means ‘the influences on where an industry decides to locate’. Some industries chose similar places when deciding where to locate their factories. For example, bread factories are often located very close to or in towns.
What are the economic factors of a country?
There are a number of factors that can affect the economic development of a country and they are generally divided into economic and non-economic factors. The economic factors include natural resources, type of economic system, marketable surplus, capital formation, etc.
What are the factors that influence economic development?
The economic factors include natural resources, type of economic system, marketable surplus, capital formation, etc. The non-economic factors include human resources, political freedom, technical expertise, social organization, corruption, etc. Capital is one of the major impediments to economic development.