Question

What is the best definition of the term cottage industry?​

Answer 1

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A cottage industry is a small-scale, decentralized manufacturing business often operated out of a home rather than a purpose-built facility. Cottage industries are defined by the amount of investment required to start, as well as the number of people employed.

Answer 2

A cottage industry is referred to as a tiny or miniature manufacturing function, which often runs out of an individual's home.

1. Cottage industries often play an important role in the countries which are economically developed.

2. These types of economies may lack behind with the capital resources and fiscal policies to bear larger types of firms or industries.

3. Small-scale or miniature cottage industries also are an essential source of utilization or employment, especially in those types of areas that are mostly on the rural side.

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