Question

Read the following statements and choose the appropriate option.

Statement 1: Cottage industries involve the usage of basic tools and equipments.

Statement 2: Generally, the cottage business can be run from the home of the artisans.

​​​​​​Statement 3: ​Easy and cheap finances are available for artisans.

• A. Only statement 1 is incorrect.
• B. Only statements 1 and 2 are incorrect.
• C. Only statement 3 is incorrect.
• D. Only statement 2 is incorrect.

Answer 1

The correct option is C Only statement 3 is incorrect.

Cottage businesses are small-scale businesses and can be run from the house of the artisans. Cottage industries in India face a lot of financial and economic problems. Availing easy and cheap finances are difficult. Cottage industries are generally small-scale industries and have to compete with the large-scale industries, which in itself is a challenge.