Weber’s Theory in Economic Geography: Understanding Industrial Location in Modern India
Weber’s Theory in Economic Geography: Understanding Industrial Location in Modern India Economic geography studies how economic activities are distributed across space, influenced by factors such as resource availability, transportation, labor, and market accessibility. One of the most influential theories in this field is Alfred Weber’s Theory of Industrial Location. Proposed in 1909, this theory explains why industries choose specific locations based on cost-minimization principles. Even today, Weber’s theory remains relevant, guiding industrial development and urban planning, particularly in emerging economies like India. https://blogmedia.testbook.com/blog/wp-content/uploads/2023/07/webers_location_triangle-16c6a93a.jpg Understanding Weber’s Theory of Industrial Location Weber's theory focuses on three primary factors influencing industrial location: 1. Transportation Costs: Industries tend to locate near raw material sources or markets to minimize transport expenses. If raw m...