Which one among the following best describes an economic activity that is concerned with production of goods,extraction of minerals or the provision of services
The term 'industry' implies an economic activity involving goods production, mineral extraction or provision of consumer services. Industry is the production of goods or related services within an economy. It converts the raw materials into the finished products.
Complete the following based on the representation: Generally Industries can be classified on the basis of Raw Materials, __________ and Ownership.
Industries can be classified on the basis of source of raw materials, size and ownership.
- On the basis of Source of Raw Material
Industries can be agro-based, mineral-based, marine-based and forest-based, depending on the type of raw materials they use.
a) Agro-based Industries.
b) Mineral- based Industries.
c) Marine-based Industries.
d) Forest-based Industries.
- On the basis of Size.
It refers to the amount of capital invested, number of people employed and the volume of production. Based on size, industries can be small-scale industries and large-scale industries. These industries can be distinguished on the basis of capital and technology used.
(a) Large-scale Industries.
(b) Small-scale Industries.
- On the basis of Ownership.
a) Public sector Industries.
b) Private sector Industries.
c) Joint sector Industries.
d) Co-operative Sector Industries.
Which of the following can be considered as an example of the economic activity production of goods from the industry sector?
Yes Because nowadays iron and steel industry make a lot of money so it is now the best economic activity and you must be knowing the most popular Bokaro steel industry ..
Which of the following can be considered as an example of the economic activity extraction of minerals from the industry sector?
The Coal mining industry is involved in extraction of coal that is one of the most important minerals.
Which of the following can be considered as an example of the economic activity service provider from the industry sector?
Banking is a part of service industry as it provides service of holding deposits, extending loans as and when the consumers need it.
Classify the industries based on the Raw materials they use and complete the image given below:
Industries are categorized into four types based on raw materials:-
1) Agro: based industries: Plant and animal-based products are used as raw materials in agro-based industries. For example : cotton textile, vegetable oil, food processing, dairy products and leather industries.
2) Mineral based industries: Mineral-based industries are built on mining and mineral ore is used as raw material. These industries also provide raw materials to other industries. They are used for heavy machinery and building materials. For example iron and steel industry, cement industry.
3) Marine based industries: Raw materials from the ocean or sea are used in marine-based industries. For example fish oil.
4) Forest-based industries: Raw materials from the forests like wood are used in forest-based industries. For example paper, pharmaceutical and furniture industries.
Which of the following best describes an agro based industry?
Agro-based industries: These industries use plants and animal-based products as their raw materials. Examples, food processing, vegetable oil, cotton textile, dairy products, and leather industries.
To which category of industry (based on raw materials) does Iron made from iron ore belong to?
Industries may be agro based, mineral based, marine based and forest based depending on the type of raw materials they use. Mineral based industries are primary industries that use mineral ores as their raw materials. The products of these industries feed other industries. Iron made from iron ore is the product of mineral based industry. This is used as raw material for the manufacture of a number of other products, such as heavy machinery, building materials and railway coaches.
Processing sea food and manufacturing fish oil can be considered as examples of :
Marine industries: it is related to marine activities. Extraction of minerals from sea, sea foods or manufacturing fish oils comes into this industries.
Pulp and Paper, Pharmaceuticals, Furniture, Buildings etc are good examples of
They utilise forest produce as raw materials. The industries associated with forest are pulp and paper, pharmaceuticals, furniture and buildings.