What industrial licensing ?how does it …
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Gaurav Seth 6 years ago
Industrial licensing is an authority issued by the government organisation to permit the institution or organisation for starting an industry .
Impact on allocation:
It REGULATES the allocation of resources for different uses as whenever the company will expand its production capacity it will be required to acquire a licence and thus it will give the govt. an opportunity to keep a check that where the resources are going , for what purpose they are being used and if scarce resources are properly utilised or not. Without license, any industry would use or even exploit the resources no matter how scarce they are
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