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

  • question_answer
    What are various types of industries?

    Answer:

    Ans.     Different types of industries are as follows:
    1. Primary Industry: The primary industry includes those activities through which the natural resources are used to provide raw materials to other industries. 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: Under this industry, new products are manufactured by using the previously produced things, e.g., producing cotton is a primary industry and manufacturing cloth out of cotton is a secondary industry. 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 is further being 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 process e.g., steel from iron ores.
    (iv) Synthetic: Many raw materials are mixed to produce 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 types of industries constructions of roads, bridges, buildings etc. are covered.
    3. Tertiary or Service Industry: It includes those services which help business to move smoothly, e.g. transport, bank, insurance, storage and advertising.


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