As per the classification of industries by output, which of the following are basic industries?
Iron and steel industry
  • Copper refining
  • Mobile manufacturing
  • A cottage industry of soapmaking
    Select the correct answer using the code given below.
    • a)
      1,2 and 3 only
    • b)
      3 and 4 only
    • c)
      1 and 2 only
    • d)
      1,2, 3 and 4
    Correct answer is option 'C'. Can you explain this answer?

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    Answers

    • Industries can be classified based upon various factors such as ownership, inputs, outputs, etc.
    • Based on the output, industries can be classified as:
    • Basic industries: Industries whose products are used to produce other goods.
    1. Iron and steel industry, copper refining industry is one of the basic industries because steel & copper produced by this industry is used in many other industries as a raw material.
    2. Some basic industries produce machines which are used to produce other goods.
    • Non-basic or consumer goods industries: Industries which produce goods for direct consumption such as tea, bread, soap and television.

    Industries can be classified based upon various factors such as ownership, inputs, outputs, etc. Based on the output, industries can be classified as: Basic industries: Industries whose products are used to produce other goods. Iron and steel industry, copper refining industry is one of the basic industries because steel & copper produced by this industry is used in many other industries as a raw material. Some basic industries produce machines which are used to produce other goods. Non-basic or consumer goods industries: Industries which produce goods for direct consumption such as tea, bread, soap and television.
    Industries can be classified based upon various factors such as ownership, inputs, outputs, etc. Based on the output, industries can be classified as: Basic industries: Industries whose products are used to produce other goods. Iron and steel industry, copper refining industry is one of the basic industries because steel & copper produced by this industry is used in many other industries as a raw material. Some basic industries produce machines which are used to produce other goods. Non-basic or consumer goods industries: Industries which produce goods for direct consumption such as tea, bread, soap and television.