Least cost theory was developed by which eminent Economist?

Adam Smith
James Duesenberry
Kenneth E. Boulding
Alfred Weber

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 4 : Alfred Weber

Least cost theory was developed by Alfred Weber.
The least-cost theory of industrial location tries to explain and predict the locational pattern of the industry at a Macro-scale.
It emphasises that an industry seek a site of minimum transport and labour cost.

4 views Answered 2022-09-04 04:29

Related Questions

The following question have three statements. Study the question and the statements and decide which of the statement(s) is/are necessary to answer the question. In a cinema hall, the amount collected after selling the tickets was Rs. 37500. Find the cost of a ticket if the cost of every ticket is same. Statement I: If the price of each ticket is increased by Rs. 30, the amount collected will be Rs. 4500 more. Statement II: Ratio of number of tickets and the cost of a ticket is 3 : 5. Statement III: If the number of tickets is decreased by 30 (keeping the cost per ticket constant), the amount collected will be Rs. 7500 less.?

1 Answers 5 Views

The question given below consists of a statement, followed by three arguments I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: The government is working on a plan to set up a waterway freight corridor to connect the mainland with the northeastern states via Bangladesh at a cost of Rs 5,000 crore. The move would substantially reduce the time taken to transport goods to the eight northeastern states and costs. Which of the following support the idea that the time of transportation will be reduced between the eight northeastern states Arguments: I.The proposed 900-km waterway would be used to transport freight from the northern and eastern states to the northeast and would start near Haldia in West Bengal, go to the Sundarbans, merge into the Padma river in Bangladesh and then join up with the Brahmaputra in Assam. II. Currently, highway connectivity to the northeastern states is patchy and transportation of goods by road entails a high cost and takes time. According to the ministry’s estimate, the waterway could help reduce the cost of transportation by about 70%. III. The government is already developing a waterway along the Ganga river between Haldia and Allahabad (1,620 km) at a cost of Rs 4,500 crore. This link will also be utilised for trade between India and Bangladesh.?

1 Answers 6 Views

The International Monetary Fund (IMF) on Monday appointed Gita Gopinath as its first female Chief Economist. Now, the IMF joins the OECD and World Bank in having a woman in the top economic role in the institution. Which of the following substantiates the given statement I: The IMF joins the OECD and World Bank in having a woman in the top economic role in the institution. II: The OECD and World Bank only have a woman in the top economic role in the institution. III: The International Monetary Fund (IMF) appointed its first female Chief Economist.?

1 Answers 4 Views

The manager of a Kirana store suggests three schemes to the owner of the store for selling sugar. Which of the following schemes will give maximum profit to the owner Scheme I: Selling the sugar at cost price only but mixing 10% impurities in it. Scheme II: Offering 5% discount on cost price but using 15% less weight. Scheme III: Setting the price at 5% above cost price and also using 5% less weight.?

1 Answers 4 Views

X sold a car to Y at cost price + 30% of cost price. Y further sold the same car to Z for Rs. 550000 earning a profit of 10% on cost price. Z used car for two years charging the depreciation at the rate of 10% per annum with original cost method. After two years he sold the car at a price which is less than 5% of the original value of the car (Cost price of car at which it is purchased by X). Calculate the profit earned or loss suffered by Z.?

1 Answers 7 Views

The relative income hypothesis which states that consumption is a function of current income relative to the highest level of income previously attained was propounded by which economist?

1 Answers 5 Views

Which of the following Economist gave the “Theory of Comparative Advantage”?

1 Answers 4 Views

Engines are rated at specified conditions. Then which of the following statements are correct 1. Power developed increases as local temperature increases. 2. Power developed increases as local temperature decreases 3. Power developed is not dependent on local temperature. 4. Power developed increases as local atmospheric pressure increases. 5. Power developed increases as local atmospheric pressure decreases.?

1 Answers 5 Views

Which famous economist developed the human development index?

1 Answers 4 Views

Which among the following are generally accepted methods of accounting for price level changes A. Replacement Cost Method B. Current Purchasing Power Method C. Opportunity Cost Method D. Current Cost Accounting Method E. Standard Cost Method Choose the correct answer from the options given below:?

1 Answers 4 Views

এক্সাম দিয়ে মেধা যাচাই করুন

Job Preparation (1125)

Admission (754)

এসএসসি (10)

এইচএসসি (5)