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Question
Write short notes of the following.
Advantages of cottage industry.
Advantages of cottage industry.
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Solution
Following are the advantages of cottage industry:
i. Employment generation: As cottage industries use labour-intensive production techniques, they have a greater employment generation potential than large industries.
ii. Consumer products: These industries produce a large variety of consumer products such as stationery items, safety matches, handicrafts, vegetables and processed food.
iii. Adaptable: Cottage industries adapt perfectly to the specific needs of consumers. As these industries use simple and highly flexible production techniques, they can provide goods which are best suited to the customers’ tastes and preferences.
iv. Low maintenance cost: When it comes to maintenance of cottage industries, it is extremely low compared to other industries. Cottage industries are good for countries where villages are in large numbers like India.
i. Employment generation: As cottage industries use labour-intensive production techniques, they have a greater employment generation potential than large industries.
ii. Consumer products: These industries produce a large variety of consumer products such as stationery items, safety matches, handicrafts, vegetables and processed food.
iii. Adaptable: Cottage industries adapt perfectly to the specific needs of consumers. As these industries use simple and highly flexible production techniques, they can provide goods which are best suited to the customers’ tastes and preferences.
iv. Low maintenance cost: When it comes to maintenance of cottage industries, it is extremely low compared to other industries. Cottage industries are good for countries where villages are in large numbers like India.
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