What is the best definition of the term cottage industry
A) A group of cottages that serves as a factory
B) A group or community that starts an industry together
C) People who produce goods out of their homes
D) People who leave their homes to work for industries
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The Correct Answer for the given question is Option C) People who produce goods out of their homes
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Cottage Industry
Meaning of Cottage Industry
Cottage industries are small, decentralized manufacturing businesses often run out of homes rather than specialized facilities. Cottage industries are classified according to their investment levels and number of employees. Labor-intensive goods are their specialty, but they must compete against mass-produced goods made by factories. Generally, cottage industries produce goods on a small scale and decentralized. Manufacturing may take place in a private residence. Most cottage industries produce products by hand. There are usually only a few workers in cottage industries. Cottage industries play an important role in nearly every country’s economy.
Features/Characteristics of Cottage Industry
- Organised by individuals with private resources;
- Family workers and local talent are usually employed;
- Low capital investment with simple equipment;
- They normally manufacture their own products in their own facilities;
- Indigenous technology is used to produce goods;
- Very few items are made because the market for items is usually small;
- Although the production are primarily carried out for self consumption some portion of the Products are sold in the local market as well.
Advantages of Cottage Industry |
Disadvantages of Cottage Industry |
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Cottage Industry FAQs
Which is the best example of a cottage industry business
A) A car company uses an assembly line to make vehicles.
B) A family sells the rights to the coal in their backyard.
C) A seamstress weaves clothes to sell out of her home.
D) A shoemaker starts at home but expands into a factory.
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The Correct Answer for the given question is Option C) A seamstress weaves clothes to sell out of her home.
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The cottage industry system involved manufacturing
a) of steam engines.
b) of hand-made luxury goods.
c) in the home.
d) in small factories.
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The Correct Answer for the given question is Option c) in the home.
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Why did the cottage industry disappear?
a) Manufactured goods cost less to produce than handmade goods.
b) The demand for cloth had declined.
c) People were unwilling to work in factories.
d) Not enough craftspeople could be found to do the work.
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The Correct Answer for the given question is Option a) Manufactured goods cost less to produce than handmade goods.
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The era of the cottage industry was rendered mostly obsolete by
A) proto industry.
B) Age of Exploration.
C) commercial industry.
D) the Great Depression.
E) the Scientific Revolution.
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The Correct Answer for the given question is Option E) the Scientific Revolution.
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Products of cottage industry are mainly sold in which market
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The Correct Answer for the given question is Option Local Markets.
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The production of cultured pearls is an important cottage industry of which of the following countries?
a) Belgium
b) West Indies
c) New Zealand
d) Japan
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The Correct Answer for the given question is Option d) Japan
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Which among the following cities of Uttar Pradesh is internationally famous for its wood carving work cottage industry?
A) Modi Nagar
b) Saharanpur
c) Kanpur
d) Allahabad
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The Correct Answer for the given question is Option b) Saharanpur
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Which among the following is the single largest cottage industry of Manipur state of India?
a) Sericulture Industry
b) Handloom Industry
c) Leather Industry
d) Jute Industry
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The Correct Answer for the given question is Option b) Handloom Industry
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Diamond cutting is undertaken as a cottage industry in
A) Jammu and Kashmir
B) Gujarat
C) Andhra
D) Maharashtra
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The Correct Answer for the given question is Option B) Gujarat
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Which is not the characteristics of cottage industry :
(a) Use of foreign technique in production
(b) They are organized by personal resources of the members
(c) Simple tools are used in it
(d) Small capital investment.
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The Correct Answer for the given question is Option (a) Use of foreign technique in production
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MBA,BBA.
I am Smirti Bam, an enthusiastic edu blogger with a passion for sharing insights into the dynamic world of business and management through this website.
I hold a MBA degree from Presidential Business School, Kathmandu, and a BBA degree with a specialization in Finance from Apex College,
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