Answer:
In
an industry some things are required at the
pre-production stage for making of goods. These are called inputs. These
include raw materials and/or component parts.
Following are the important factors of production
(i) Land It should be available at the most
appropriate place where all the factors of industrial location are either
available or can be arranged at lower cost.
(ii) Labour There should be cheap and enough supply
of labour.
(iii) Capital The run industrial activities
sufficient and regular supply of capital is a must.
(iv) Entrepreneur An industry is the brainchild of
a person who conceives and implements the idea of its setting up. This person
is called the entrepreneur.
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