Sarthaks Test
0 votes
in Business Studies by (64.1k points)
State the features of cottage industries.

1 Answer

0 votes
by (106k points)
selected by
Best answer

The following are a few important features of cottage industries.

Ownership: These are rural-based industries owned and operated by individuals who invest their private resources in these units. 

Level of capital and production techniques: The amount of capital is very small, and the production techniques are highly labour-intensive and indigenous. 

Employment: These industries generally do not hire labour but employ the owners family members. 

Talent and skills: Usually, the talent and the skills required for cottage industries are found restricted to particular families. The skills are passed on from one generation to the next. For instance, the art of pottery remains restricted to potter families. 

Market: Although the production is primarily carried out for self-consumption, a portion of the output is sold in the local market as well.

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.