ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In conclusion, the cottage industry is the term that historians use to identify production that was completed before the start of the Industrial Revolution. It involved people producing goods on a very small scale in their homes and was not centralized in one location.

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: -By far the most important cottage industry centres on the production of yarn and textile fabrics-mostly coarse and medium-quality fabrics. Another cottage industry produces cigarettes known as bidis. Carpets, ceramics, and cane furniture also are products of cottage industries.

Detailed explanation-4: -Cottage industries may be the original remote work system. Before the Industrial Revolution, they opened a way for people living in rural areas to make a living doing labor-intensive jobs like spinning wool, tanning leather, and sewing clothing.