REQUIREMENTS OF INDUSTRIES
There are various factors required to set up and administer an industry- men, materials, money, place, machines, etc.,
RAW MATERIALS
The basic commodities required in the process of manufacturing of products are known as raw materials. For example, crude oil is the raw material for petroleum industry and cotton bolls are the raw materials for cotton industry.
MACHINES
Machines are required to convert raw materials into finished or final products. For example, tea leaves are processed into fine tea with the help of machines.
PLACE
Location plays a very important role in the functioning of an industry. To acquire raw materials from their source and to distribute the finished products to their destination with minimum expense, an industry should be at the place which is near to the market and raw material is easily available.
POWER
To run machines, we need power (electricity). Thermal, nuclear and hydroelectric power are used to run machinery.
WATER
Water is an essential requirement for most of the industries like jute, cotton textile, paper etc. Therefore, most of the industries are located near river or water bodies.
MANPOWER
Manpower includes the engineers, scientists, managers and workers are required to manage an industry. Industries also need help people who can think, plan and design the set up of factories.
FINANCE
Money is the most important resource for setting up an industry. It is needed to buy land, raw materials, machines and to pay wages to workers.
TRANSPORTATION
To bring raw material to the factory and send the finished products to different markets of the country and across the world, transport is required.
MARKET
A place for selling the finished products is called a market. The nearer is the industry to its market the cheaper is its transportation cost.
There are various factors required to set up and administer an industry- men, materials, money, place, machines, etc.,
RAW MATERIALS
The basic commodities required in the process of manufacturing of products are known as raw materials. For example, crude oil is the raw material for petroleum industry and cotton bolls are the raw materials for cotton industry.
MACHINES
Machines are required to convert raw materials into finished or final products. For example, tea leaves are processed into fine tea with the help of machines.
PLACE
Location plays a very important role in the functioning of an industry. To acquire raw materials from their source and to distribute the finished products to their destination with minimum expense, an industry should be at the place which is near to the market and raw material is easily available.
POWER
To run machines, we need power (electricity). Thermal, nuclear and hydroelectric power are used to run machinery.
WATER
Water is an essential requirement for most of the industries like jute, cotton textile, paper etc. Therefore, most of the industries are located near river or water bodies.
MANPOWER
Manpower includes the engineers, scientists, managers and workers are required to manage an industry. Industries also need help people who can think, plan and design the set up of factories.
FINANCE
Money is the most important resource for setting up an industry. It is needed to buy land, raw materials, machines and to pay wages to workers.
TRANSPORTATION
To bring raw material to the factory and send the finished products to different markets of the country and across the world, transport is required.
MARKET
A place for selling the finished products is called a market. The nearer is the industry to its market the cheaper is its transportation cost.
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