Answer the following questions. (i) What is meant by the term ‘industry’? (ii) Which are the main factors which influence the location of an industry? (iii) Which industry is often referred to as the backbone of modern industry and why?

(i) Industry Definition: Industry refers to economic activities involved in producing goods or services. It covers sectors transforming raw materials into finished products or providing services within an economy.

(ii) Factors Influencing Industry Location: Factors impacting industry location include raw material availability, labor, transport, market demand, government policies, infrastructure, and energy sources.

(iii) Backbone of Modern Industry: Manufacturing is considered the backbone due to its role in economic growth, innovation, job creation, GDP contribution, and serving as a base for other industries, fostering overall economic development.