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Large-scale industries plays an important role in the development of the industrial sector. Come up with an explanation to this question.

Large-scale industries plays an important role in the development of the industrial sector. Come up with an explanation to this question.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Large-scale industries plays an important role in the development of the industrial sector. Come up with an explanation to this question.

Activity 1: The third category of commercial ventures are the large-scale industries. It produces homogenous products for the rest of the economy like cement, steel, fertilizers, and copper. A large plant with its complex production process requires huge capital to fiancé its constructions and the acquisition of machinery. Direction: Large-scale industries plays an important role in the development of the industrial sector. Come up with an explanation to this question.
Transcribed Image Text:Activity 1: The third category of commercial ventures are the large-scale industries. It produces homogenous products for the rest of the economy like cement, steel, fertilizers, and copper. A large plant with its complex production process requires huge capital to fiancé its constructions and the acquisition of machinery. Direction: Large-scale industries plays an important role in the development of the industrial sector. Come up with an explanation to this question.
- in These require a large capital invest- ment and employ more workers com- pared to small- and medium-scale in- dustries. Large-scale industries pro- duce homogenous products for the can ploy- rest of the economy like cement, steel, l in- y is plants lo make production economi- fertilizers, and copper. The manufac- ture of these products requires large ries. luce cally feasible. The production process com- involves the use of complex machin- pro- ery and equipment run by highly vely skilled technicians, engineers, and s of managers. A large plant with its com- plex production process requires huge mes ated capital to finance its construction and the acquisition of machinery. Money to finance industries is usUally ex- are our tended by domestic banks. Foreign ntial banks are often asked for part of the rod- capital requirements of a large indus- mes- try because domestic banks do not and have sufficient funds for the purpose. Large-scale industries are impor- tries tant to the development of the indus- Tom trial sector. Because of their size and rises complex production processes, they e in- nese may have significant effects on other sectors of the economy. They can en- han hance the development of other indus- pine tries which provide raw materials for hore production. They can also contribute dus- to the growth of other industries which are use their products as raw materials. For example, the steel industry can ines olds. have an important effect on the growth The of the steel cabinet industry, the steel nt is bed and chair industry, and other in- nold dustries that use steel as a raw mate- rom rial to manufacture their final prod- ucts. Another contribution of large scale industries to society is their for- ions or to mation and development of a highly vari- mes- talented, skilled and educated labor force needed to work with heavy well. rcial equipment and complicated produc- lion processes. ries.
Transcribed Image Text:- in These require a large capital invest- ment and employ more workers com- pared to small- and medium-scale in- dustries. Large-scale industries pro- duce homogenous products for the can ploy- rest of the economy like cement, steel, l in- y is plants lo make production economi- fertilizers, and copper. The manufac- ture of these products requires large ries. luce cally feasible. The production process com- involves the use of complex machin- pro- ery and equipment run by highly vely skilled technicians, engineers, and s of managers. A large plant with its com- plex production process requires huge mes ated capital to finance its construction and the acquisition of machinery. Money to finance industries is usUally ex- are our tended by domestic banks. Foreign ntial banks are often asked for part of the rod- capital requirements of a large indus- mes- try because domestic banks do not and have sufficient funds for the purpose. Large-scale industries are impor- tries tant to the development of the indus- Tom trial sector. Because of their size and rises complex production processes, they e in- nese may have significant effects on other sectors of the economy. They can en- han hance the development of other indus- pine tries which provide raw materials for hore production. They can also contribute dus- to the growth of other industries which are use their products as raw materials. For example, the steel industry can ines olds. have an important effect on the growth The of the steel cabinet industry, the steel nt is bed and chair industry, and other in- nold dustries that use steel as a raw mate- rom rial to manufacture their final prod- ucts. Another contribution of large scale industries to society is their for- ions or to mation and development of a highly vari- mes- talented, skilled and educated labor force needed to work with heavy well. rcial equipment and complicated produc- lion processes. ries.
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