Question

What are three characteristics that may make a place well-suited, or poorly-suited, for industry?

Answer 1

Labor, land and capital are three characteristics that may make a place well-suited, or poorly-suited, for an industry. Land is defined as any part of Earth’s surface that is not covered by water. Labor is defined as the work that is put into creating a product or developing a service. Capital is used to describe the financial assets that are used to produce and manufacture goods.

Answer 2

The correct answer is land, labor and capital.

A specific place might be appropriate or inadequately suited for industry, contingent upon the unmistakable attributes of land, work, and capital. These three characteristics that is used to determine well-suited or poor-suited for an industry is also used in the factors of production, yet entrepreneurship is added.