Localization of industries is

Assessment: WAEC SSCE - Economics - 1996 (Objective) Subject: Economics

Question 1 Report

Localization of industries is
Answer Details
Localization of industries refers to the concentration of industries or firms in a particular area or region. It is the process of selecting and locating an industry in a specific place or region due to the availability of resources, labor, and other favorable conditions. This process is influenced by factors such as transportation, communication, raw materials, and labor availability. The aim of localization of industries is to achieve economies of scale, increase efficiency, and reduce production costs. Therefore, it is an important factor in the economic development of a region or country.
Read lesson note on Industrialization (WAEC)
Read lesson note on Industry And Industrialization (JAMB)
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