What is industrial development concept?
Industrialisation: Industrialisation may be defined as a process in which more and more industries are being established in a country. Industrialisation has a major role to play in the economic development of the under-developed countries like India.
What is the role of industrialization in development?
Industrialization, which the industrial revolution has placed at the heart of structural changes, has consistently raised the levels of production and employment, which has led to unprecedented income growth. So promoting the development of the industrial sector can be a key to achieving sustainable development.
What is industrial developer?
1. Is the building and growing of industries within an economy by using new technologies which make jobs easier, faster, and better and lead to an increase in a business’ output and an increase in profits.
What are the factors of industrial development?
ADVERTISEMENTS: Some of the important factors influencing industrial productivity are : (i) Technological Development (ii) Quality of Human Resources (iii) Availability of Finance (iv) Managerial Talent (v) Government Policy (vi) Natural Factors!
What are the 4 stages of modernization?
The stages include traditional society, preconditions to takeoff, takeoff, drive to maturity, and age of high mass consumption.
What are the 3 stages of production in economics?
-Production within an economy can be divided into three main stages: primary, secondary and tertiary.
What are the effects of industrial development?
At the same time, industrial processes can have negative environmental impacts, causing climate change, loss of natural resources, air and water pollution and extinction of species. These threaten the global environment as well as economic and social welfare.
What are the advantages of industrial development?
Industrialization Improves Profits Adding industrial development to a business can increase the scale of production, reduce the cost of production, make improvements on the products being developed and widen the market for products and services being sold.
What are the 3 levels of economic development?
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary).
What are the stages of industry?
The growth of an industry’s sales over time is used to chart the life cycle. The distinct stages of an industry life cycle are: introduction, growth, maturity, and decline.
What are the three stages of development?
The three stages of stream development are youthful, mature and old age. Each stage occurs in different locations and features specific characteristics. The first stage of stream development is youthful.
What is industrial life cycle?
Industrial Product Life-Cycles. The product life-cycle is a series of different stages a product goes through, beginning from its introduction into the market and ending at its discontinuation and unavailability.