11th Class Business Studies Nature And Purpose Of Business

  • question_answer 12)
    What are various types of industries?


    Industry refers to economic activities, which are connected with conversion of resources into useful goods. Industries may be divided into three broad categories namely primary, secondary and tertiary. (i) Primary Industries include all those activities, which are connected with the extraction and production of natural resources and reproduction and development of living organisms, plants etc. (ii) Secondary Industries are concerned with using or processing the materials which have already been extracted at the primary stage. (iii) Tertiary Industries are concerned with providing support services to primary and secondary industries. They also include activities relating to trade.

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