Question

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Answer 1

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1. Industry refers to an economic activity that is concerned with the production of goods, extraction of minerals and provision of services.In order to set up an industry we need industrial inputs which are raw materials, labour, land, transport, power and other infrastructure surplus capital.

2. Cottage industries are a type of small scale industries. Ex- Basket weaving and pottery.

3. Small scale industries are the industries in which products are manufactured by hand, by the artisans. The capital is small and technology is less. Generally goods that do not require much technology are made here.

4.Large scale industries are the industries in which investment is higher and technology used is superior. Ex- silk weaving and food processing.