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LOCALIZATION OF INDUSTRIES — Economics Keypoint

LOCALIZATION OF INDUSTRIES

This refers to the concentration of related firms in one locality

ADVANTAGES OF LOCALIZATION OF INDUSTRY

  • It encourages specialization.
  • Social and economic services are enjoyed among the industries (external economies)
  •  It enhances research possibilities.
  • It enhances the supply of labour. 
  • It encourages the development of subsidiary industries

DISADVANTAGES OF LOCALIZATION OF INDUSTRY

    1. Localization brings about social disorder owing to emergence of pop seeking for jobs.
  • It is an area of target for bombing during war.
  • It also brings about insufficiency in supply of local amenities clue to the over-crowdedness of the area.
  • It causes the depopulation of the rural areas. 
  • It sometimes causes unemployment problems. 
  • It causes a high standard of ivir0 i.e. it brings about a rise in cost of living.

 

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