What is Industry ? Meaning ↓
The production side of concern activity is referred equally industry. It is a concern activity, which is related to the raising, producing, processing or manufacturing of products.
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The products are consumer's goods equally good equally producer's goods. Consumer goods are goods, which are used hold upwardly yesteryear consumers. E.g. Food grains, textiles, cosmetics, VCR, etc. Producer's goods are the goods used yesteryear manufacturers for producing approximately other goods. E.g. Machinery, tools, equipments, etc.
Expansion of merchandise in addition to commerce depends on industrial growth. It represents the render side of market.
Classification / Types of Industries ↓
There are diverse types of industries. These are mentioned equally follows :-
1. Primary Industry
Primary manufacture is concerned amongst production of goods amongst the aid of nature. It is a nature-oriented industry, which requires real piddling human effort. E.g. Agriculture, farming, forestry, fishing, horticulture, etc.
2. Genetic Industry
Genetic industries are engaged inwards re-production in addition to multiplication of for certain spices of plants in addition to animals amongst the object of sale. The principal aim is to earn turn a profit from such sale. E.g. constitute nurseries, cattle rearing, poultry, cattle breeding, etc.
3. Extractive Industry
Extractive manufacture is concerned amongst extraction or drawing out goods from the soil, air or water. Generally products of extractive industries come upwardly inwards raw shape in addition to they are used yesteryear manufacturing in addition to structure industries for producing finished products. E.g. mining industry, coal mineral, crude industry, Fe ore, extraction of timber in addition to safe from forests, etc.
4. Manufacturing Industry
Manufacturing industries are engaged inwards transforming raw fabric into finished production amongst the aid of machines in addition to manpower. The finished goods tin post away live either consumer goods or producer goods. E.g. textiles, chemicals, saccharide industry, newspaper industry, etc.
5. Construction Industry
Construction industries possess got upwardly the run of structure of buildings, bridges, roads, dams, canals, etc. This manufacture is unlike from all other types of manufacture because inwards instance of other industries goods tin post away live produced at 1 house in addition to sold at approximately other place. But goods produced in addition to sold yesteryear constructive manufacture are erected at 1 place.
6. Service Industry
In modern times service sector plays an of import business office inwards the evolution of the patch in addition to thence it is named equally service industry. The principal industries, which autumn nether this category, include hotel industry, tourism industry, amusement industry, etc.
