BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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of hand made luxury goods
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in the home
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steam engines and other cottage-sized macines
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cheese and pastries
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Detailed explanation-1: -What Is a Cottage Industry? A cottage industry is a small manufacturing business that is owned and operated by an individual or a family, typically operating out of a home rather than a purpose-built facility. Cottage industries are defined by the small amount of investment that is required to start one.
Detailed explanation-2: -It is the smallest manufacturing unit. The craftsmen with the help of their family members produce everyday goods within their homes. They use locally available raw-material and sell their products in the local markets. They use simple tools devised by them to produce goods.
Detailed explanation-3: -Home-based manufacturing was known as the cottage industry system.
Detailed explanation-4: -The main cottage industries in India are cotton weaving, carpet weaving, silk weaving, the leather industry, metal handicrafts, and small-scale food processing. Cotton Weaving: Cotton weaving is a significant cottage industry in India.