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WAEC Economics 2017 Question 30

Question 30

Industrialisation

In an industrial area, the location of industries is particularly influenced by

  1. A.extent of the division of labour
  2. B.external economies.
  3. C.internal economies.
  4. D.nearness to financial institution.
Show the answer and explanation

Answer: B (external economies.)

Explanation

Firms locate in industrial areas to share external economies such as skilled labour, services and infrastructure.