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State whether the following statement is True or False
Industries can be classified based on the size of the products they make.
- a)False
- b)True
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
State whether the following statement is True or FalseIndustries can b...
- Industries are classified based on raw materials, size, and ownership, not on the size of the products they make.
- For example, industries can be classified into small-scale and large-scale based on the amount of capital invested, the number of people employed, and the volume of production.
- Small-scale industries produce goods on a smaller level compared to large-scale industries that produce goods on a larger scale.
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State whether the following statement is True or FalseIndustries can b...
Understanding the Classification of Industries
The statement "Industries can be classified based on the size of the products they make" is marked as False. Let's explore this in detail.
Classification of Industries
Industries are typically classified based on various criteria, such as:
- Type of Goods Produced: Industries can be categorized into primary, secondary, and tertiary based on the nature of their output.
- Scale of Operations: They can be classified as small-scale, medium-scale, or large-scale industries depending on their production capacity and investment.
- Ownership: Industries can be private, public, or cooperative.
- Technology Used: Industries can also be categorized based on the technology level, such as traditional or modern industries.
Size of Products vs. Industry Classification
- Misconception of Product Size: The size of the products (small, medium, large) does not serve as a primary basis for classifying industries. Instead, it's more pertinent to the type of industry.
- Examples: For instance, both small and large industries can produce similar-sized products (e.g., furniture). Therefore, product size alone is not a sufficient criterion for classification.
Conclusion
In summary, the classification of industries is multifaceted and does not hinge solely on the size of the products they manufacture. Thus, the statement is accurately marked as False. Understanding these classifications helps in comprehending the diverse dynamics of industrial operations.
The statement "Industries can be classified based on the size of the products they make" is marked as False. Let's explore this in detail.
Classification of Industries
Industries are typically classified based on various criteria, such as:
- Type of Goods Produced: Industries can be categorized into primary, secondary, and tertiary based on the nature of their output.
- Scale of Operations: They can be classified as small-scale, medium-scale, or large-scale industries depending on their production capacity and investment.
- Ownership: Industries can be private, public, or cooperative.
- Technology Used: Industries can also be categorized based on the technology level, such as traditional or modern industries.
Size of Products vs. Industry Classification
- Misconception of Product Size: The size of the products (small, medium, large) does not serve as a primary basis for classifying industries. Instead, it's more pertinent to the type of industry.
- Examples: For instance, both small and large industries can produce similar-sized products (e.g., furniture). Therefore, product size alone is not a sufficient criterion for classification.
Conclusion
In summary, the classification of industries is multifaceted and does not hinge solely on the size of the products they manufacture. Thus, the statement is accurately marked as False. Understanding these classifications helps in comprehending the diverse dynamics of industrial operations.
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State whether the following statement is True or FalseIndustries can be classified based on the size of the products they make.a)Falseb)TrueCorrect answer is option 'A'. Can you explain this answer?
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