11th Class Business Studies Evolution And Fundamentals Of Business Question Bank Evolution and Fundamentals of Business (Long)

  • question_answer
    3. Explain with examples the various types of industries.

    Answer:

    Ans.     Different types of industries are as follows:
    1. Primary industry: Primary industry includes all those activities, which are connected with the extraction and production of natural resources and reproduction and development of living organisms, plants, etc. Primary industries are of two types.
    (i) Extractive: It refers to those industries under which something is extracted out of the earth, water or air, e.g. coal, iron, gas, etc.
    (ii) Genetic: It refers to those industries under which the breed of animals and vegetables are improved and made more useful, e.g. poultry farms, tree planting, etc.
    2. Secondary industry: Secondary industry includes all those activities, which are connected with using the materials, which have already been extracted at the primary stage. It is of two types.
    (i) Manufacturing: These industries convert raw materials or semi-finished products into finished products, e.g., paper from bamboo, sugar from sugar cane. It has further been divided into four parts.
    (ii) Analytical: Different things are manufactured out of one thing, e.g. petrol, diesel, gasoline out of crude oil.
    (iii) Processing: Those industries wherein useful things are manufactured by making the raw material to pass through different production processes, e.g. steel from iron ores.
    (iv) Synthetic: Many raw materials are mixed to produce a more useful product, e.g. paints, cosmetics, etc.
    (v) Assembling: The parts manufactured by different industries are assembled to produce new and useful product, e.g. computers, watches, etc.
    (vi) Construction Industry: Such type of industries includes construction of roads, bridges, buildings, etc.
    3. Tertiary or Service Industry: Tertiary industry includes all those activities, which are concerned with providing support services to primary and secondary industries as well as activities relating to trade. It includes banking, finance, insurance, communication, transportation, etc.


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