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 Form 3 business studies revision questions and answers set 1

Highlight four ways a trader benefits from localization of industries

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Answer Text:
-A pool of manpower from which the trader can recruit skilled labour
-Other complementary firms are likely to develop alongside
-Firms offering supportive services may develop in the area
-A trader will benefit from the social amenities present in a localized area
-A trader can join other traders and work together hence taking advantage of large scale product