define the size of an industry
class 8 chapter 5 industries
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Size of Industries refers to the amount of capital invested, a number of people employed and the volume of production. Industries are classified into two types based on size: small scale and large scale industries. Small scale industries manufacture products by hand and includes cottage and household industry.
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Market size is the number of individuals in a certain market segment who are potential buyers. Companies should determine market size before launching a new product or service.
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