Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F35ff77a3-2ee9-4135-9525-17c7a4e432ab%2F2ad2315a-6842-4efc-9a5f-3bf6c7a802b9%2Fn8apml_processed.jpeg&w=3840&q=75)
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F35ff77a3-2ee9-4135-9525-17c7a4e432ab%2F2ad2315a-6842-4efc-9a5f-3bf6c7a802b9%2Fhyfsif_processed.jpeg&w=3840&q=75)
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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