Reduce the size of icons in 'Applications' folder [Answered]

I was searching for a solution to reduce the size of icons that appear in the Applications folder. It's very easy to adjust the size of the icons when you are viewing the folder in 'finder'; but the not very straightforward when you are viewing at the pop-out tray that opens when you open the dock, in grid view.

Fortunately, the fix is very easy: All you need to do press 'command' key and while it's pressed, hit the + or - keys on the keyboard to make the icons bigger or smaller. That's it! No need to search for settings or looking at all the view options.

If you find this tip useful, please share it and let me know through comment!