Define Industry.
Describe the common products of household industries and the characteristics of household/cottage industries
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Industry:
Industry refers to an economic activity that is concerned with production of goods, extraction of minerals or provision of services. Industries are classified according to raw material used, size and ownership.
common characteristics:
● They're set up or organised by people with private resources and raw materials.
● They usually use locally available members to get the work done.
● They make use of simple types of equipment.
● The capital investment is minimal.
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