Mass production- The process by which goods are manufactured on a large scale
Entrepreneur- Someone who invests in and manages a business
Tenant farmer- Someone who farms land owned by a landowner and shares profit
Textile- Woven cloth
Cottage industry- An industry in which the production of
finished goods is home-based
Explanation:
Cottage industry is an industry in which the goods are produced in the home. It is a home-based business.
Goods that are produced on large scale is known as mass production.
Entrepreneur is a person who invests in and manages the business.
A person is said to be tenant farmer when he farms the land owned by a landowner. The tenant farmer shares his profit with the landowner.
The correct terms for the following are:
1. Mass production is the process by which goods are manufactured on large scale. It is the production of a large number of standardized products using automation technology or assembly lines.
2. Entrepreneur is someone who invests and manages a business. The person works individually and bears the loss and profits on his own.
3. Tenant Farmer is someone who farms land owned by landowners and shares profit. The farmers generally reside on the farmland having a landlord.
4. Textile is woven cloth and the industries associated with the production of cloths are textile industries.
5. Cottage industry is defined as the industry in which the production of finished goods is home-based.
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