Size of an industry depends on

1.	Size of an industry depends on
Answer» The six main factors responsible for DETERMINING the SIZE of an industry are as follows: 1. Entrepreneurial Skill 2. Managerial ABILITY 3. Availability of Finance 4. Availability of Labour 5. Nature of Business 6. Extent of the Market. The size of an average industry varies from country to country. We have, on the one hand, giant CONCERNS in the United States and Germany and tiny businesses in small Indian towns. Why is it so? There are a number of factors which determine the size of a business unit in a country.

Answer»

The six main factors responsible for DETERMINING the SIZE of an industry are as follows:

1. Entrepreneurial Skill 2. Managerial ABILITY 3. Availability of Finance 4. Availability of Labour 5. Nature of Business 6. Extent of the Market.

The size of an average industry varies from country to country. We have, on the one hand, giant CONCERNS in the United States and Germany and tiny businesses in small Indian towns. Why is it so? There are a number of factors which determine the size of a business unit in a country.

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