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Describe two features of cottage industries?
Economy an business
What most likely changed when cottage industries began to disappear?
When cottage industries began to disappear, production shifted from small-scale, home-based manufacturing to large-scale factory systems. This transition often led to increased efficiency and output, but also resulted in the loss of traditional craftsmanship and local economic self-sufficiency. Furthermore, as industries centralized, workers migrated to urban areas for employment, leading to significant changes in social structures and community dynamics. Ultimately, the decline of cottage industries marked a significant shift towards industrialization and the modern economy.
How did lack of diversification effect the economy during the Great Depression?
Only a few basic industries in America in the 1920s controlled the wealth. This lack of diversification contributed to the decline of the economy because when these industries weakened and sales fell tremendously, there were not yet other industries that were advanced and developed enough to counteract the damages made by the decline of these industries like construction and automobile sales.
Why does the government consider cottage and small scale industries so important?
The government considers cottage and small-scale industries important because they play a crucial role in promoting economic development and employment generation, especially in rural and semi-urban areas. These industries help to reduce poverty by providing livelihood opportunities and fostering entrepreneurship. Additionally, they contribute to local economies by utilizing local resources and skills, promoting self-sufficiency, and supporting sustainable development. Overall, they enhance industrial diversity and resilience, making the economy more robust.
What is the difference between market economy and subsistence economy?
A commercial economy is an economy that has enough food and supplies left over when used, but a subsistence economy is an economy that has enough food. They don't have he extra left over like a commercial economy.
Describe two features of cottage industries?
Economy an business
What role do cottage industries play in India's economy?
economic development and employment.
What is the difference between economics and commercial activity?
commercial economy those aspects of an economy that are tied to the exchange of goods, services, and labor activities, while economic activity attracts and supports a range of industries.
Short note on small scale industry?
Cottage industry or Home industry means the manufacturing of goods at home by hands, with small capital and on a small scale by the members of a family. In the past cottage industries played an important role in the economy of our country. They provided employment to a large number of people. The destruction of the cottage industries is one of the main causes of poverty in our country. In India cottage industries have a more important part to play than any other country. They can help a lot in solving the problem of unemployment and poverty. For more than four months in a year, our cultivators have no work to do. Cottage industries can give the cultivator useful employment during spare time. Cottage industries have some real and practical advantages. They make the best use of woman labour. They make the work joyful and pleasant. There is no corruption and no exploitation of the poor by the rich. In cottage Industries there is no fear of a quarrel between the labour and factory owner.
Role of small business in indian economy?
A small business or cottage industry may be defined as an enterprise or series of operations carried on by a skilled workman in the craft on his responsibility. It helps the economy in promoting balanced development of industries across all the regions of the economy.
How did lack of diversification effect the economy during the Great Depression?
Only a few basic industries in America in the 1920s controlled the wealth. This lack of diversification contributed to the decline of the economy because when these industries weakened and sales fell tremendously, there were not yet other industries that were advanced and developed enough to counteract the damages made by the decline of these industries like construction and automobile sales.
What is Gomia in Bihar famous for?
The town of Gomia is famous for commercial explosives. 80% of its economy depends on an IEL factory known as Imperial Chemical Industries.
What industries drive the economy of Serbia?
The main industries that help the economy of Serbia, 23% of industry, 63% of serives, and 12% of agriculture. Those are the only 3 known industries that affect the economy.
What is sugar industries?
in an economy
What is the economy of Antarctica?
There is no commercial economy in Antarctica.
Which types of businesses dominate the US economy today?
The US economy is dominated by several types of industries. The following is a list of many important ones: A. The defense industry; B. The high technology industry; C. The energy industry; D. The livestock and farming industries; and E. The commercial aircraft industry.
What is the economy of Ireland Based on today?
The economy of Ireland is based on Industries today.
