Industry is a types of business.Industry refers to activities of business that produces goods and services by using various resources.Generally it produces products by processing and changing the shape and size of raw materials.These produced goods and services are consumed by final consumers or by other organizations for reproduction.for instance,the activity related to purchase of wool and weaving sweaters for sale is industry.Thus,the business activity of extraction,generation and conversion is called industry.
Considering the nature of products,industry can be categorized as fallows;
(1)Primary industry : The industry that produces products using raw materials drawn either from farming or natural resources is called primary industry.Usually,products produced by primary industry are further processed by other industries.It also can be further divided in the following divisions.
(a)Extractive industry : This industry involves in drawing out products from natural resources like soil,water and air.Fishing in the river,hunting in the jungle and mining are some of the examples of extractive industry.
(b)Genetic industry : The industry involve in producing products using the raw materials obtained from farming of plants,animals,livestock,fishery,bee-keeping is called genetic industry.Animal husbandry,poultry,forestry,plant nursery are some of the example of genetic industry.
(2)Secondary industry : The industry,which produces goods for the final use but not for reproduction purpose is called secondary industry.It uses products produced by primary industry as input or raw materials.Secondary industry also can be further divided as;
(a)Manufacturing industry : The industry involved in manufacturing ready made products from the raw materials or semi-manufactured goods is called manufacturing industry.Cotton industry,jute industry,paper industry and carpet industry are some of the examples of manufacturing industry.
(b)Construction industry : The industry engaged in constructive works like construction of road,bridges,buildings is called construction industry.Such an industry doesn't produce goods to sell them in the ordinary market.As per the order of costumer ,constructive activities are carried out at a fixed place using materials like rods,cement,brick produced by other industries.
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