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Classification of Industries
In this chapter, we will learn about the classification of industries. Industries can be classified into three main categories based on the raw materials used and the finished goods produced. These categories are:
1. Primary Industries
- Primary industries are those that extract raw materials directly from nature.
- Examples of primary industries include agriculture, fishing, forestry, mining, and quarrying.
- These industries are essential as they provide the necessary raw materials for other industries.
- Primary industries are also known as extractive industries.
2. Secondary Industries
- Secondary industries are those that transform raw materials into finished goods.
- These industries add value to the raw materials by processing or manufacturing them.
- Examples of secondary industries include manufacturing, construction, and power generation.
- Secondary industries are also known as manufacturing industries.
3. Tertiary Industries
- Tertiary industries are those that provide services to individuals and other industries.
- These industries do not produce tangible goods but offer various services.
- Examples of tertiary industries include transportation, banking, education, healthcare, tourism, and entertainment.
- These industries play a crucial role in the economic development of a country.
It is important to understand the classification of industries as it helps us analyze and understand the economic activities in a region or country. It also helps in planning and development strategies for different sectors.
By classifying industries into these categories, we can identify their roles and contributions to the economy. Each category has its own significance and impact on employment, production, and overall economic growth.
Moreover, this classification helps in studying the interdependence between different industries and their supply chain. It also helps in understanding the relationship between industries and the availability of natural resources.
Overall, the classification of industries provides a framework for analyzing and studying the economic activities of a country or region. It helps in understanding the diverse nature of industries and their contributions to the overall development and growth of the economy.
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Needed a Video for classification of industry? Related: Classification of Industries, Chapter Notes, Class 8, SST? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Needed a Video for classification of industry? Related: Classification of Industries, Chapter Notes, Class 8, SST? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Video for classification of industry? Related: Classification of Industries, Chapter Notes, Class 8, SST?.
Needed a Video for classification of industry? Related: Classification of Industries, Chapter Notes, Class 8, SST? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Needed a Video for classification of industry? Related: Classification of Industries, Chapter Notes, Class 8, SST? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Video for classification of industry? Related: Classification of Industries, Chapter Notes, Class 8, SST?.
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