Read the Passage given below and answer the following question. (Q 3)

Major concentrations of modern manufacturing have flourished in a few number of places. These cover less than 10 per cent of the world’s land area. These nations have become the centres of economic and political power. However, in terms of the total area covered, manufacturing sites are much less conspicuous and concentrated on much smaller areas than that of agriculture due to greater intensity of processes. Industries maximise profits by reducing costs. Therefore, industries should be located at points where the production costs are minimum.