Question

what are medium scale industry?explain its features in economics


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Answer 1

Answer:

A medium scale business is often the awkward middle child of its industry – too large to get the discounts and services afforded to small businesses and too small to have the weight and prestige granted to large enterprises. When it comes to doing business with the U.S. government, there are several parameters you need to look at before classifying the size of a company. When dealing with the private sector, such as when you're selecting software licensing packages or buying consulting services, the process is far less exacting.

Small- and Medium-Scale Rules of Thumb

When dealing with other businesses, classifying a company's size is usually done by looking at the number of employees and annual revenue. Different businesses may use different names for their classifications. These can include small or midsize business, midsize industry, or they may use acronyms. SMB, for example, stands for a small- to medium-sized business, while SME stands for a small- to medium-sized enterprise, although both mean the same thing.

Gartner, the business research and advisory firm, recommends defining small businesses as companies that have 100 or fewer employees, or with less than $50 million in annual revenue. According to Gartner's guidelines, medium-sized businesses have between 100 and 999 employees, or between $50 million and $1 billion in revenue.

Answer 2

Answer:

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Small and medium-sized enterprises or small and medium-sized businesses are businesses whose personnel numbers fall below certain limits This type of Industries is called medium scale industry.

☯ The Features of Medium scale industry in economy are given below:-

• Medium-scale industries in India contribute significantly to manufacturing output, employment, and exports of the country. Employment.

• Medium-scale enterprises are labour intensive and thus create more employment per unit of capital employed.

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