Question

Which of the following comes under the ‘footloose industry’?
A.Iron and steel
B.Cotton Industry
C.Information Technology
D.Petro - chemical

Answer 1

Hint: It basically refers to the study or use of electronic equipment, especially computers, for collecting, storing and sending out information.

Complete answer: Footloose industry is a general term for an industry that can be placed and located at any location. They are not affected from factors like resources or transportation. These industries often have spatially fixed costs, which means that the costs of the products do not change no matter where the product is assembled. Diamonds and computer chips are some main examples of the footloose industries.
Some of the major characteristics of footloose industries are given below :
1)Location: These industries can be established at any place. These are affected by component parts and are also available at all the places.
2)Less labour force: These type of industries produce their products in small numbers and hence they do not require a large labour force.
3)Small plant size: These industries need small plant size in comparison to heavy and small industries.
4)Skilled workers: It requires skilled workers since the industrial process is advanced plus major work requires high-quality precision.
These types of industries are important for the development of areas that lack locational advantages with respect to heavy and small industries such as port facilities, availability of raw materials, etc. Great development of the footloose industry can also provide high-value employment opportunities and competitive advantage in world trade.

Thus,Option C is the correct answer.

Note: Footloose industries can also refer to the process of making products that neither gain nor lose weight due to which they face significant transportation costs. An example of such a footloose processing industry is honey. The weight of the raw honey and wax is similar to the finished product. So, whether the honey you buy is processed near the source of the raw materials or at the location that is far away from the final product demand, the transportation costs remain the same.