Class 5 Exam > Class 5 Questions > Iron and steel industry is a _________.a)Publ...
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Iron and steel industry is a _________.
- a)Public Sector Industry
- b)Joint Sector Industry
- c)Basic Industry
- d)Cooperative Sector Industry
Correct answer is option 'C'. Can you explain this answer?
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Iron and steel industry is a _________.a)Public Sector Industryb)Joint...
Iron and steel industry is the key to modern industrial development. It provides the raw material for machines, tools, construction, transport, agricultural implements and many other industries which is essential for modern life. This is why iron and steel industry is considered as a basic industry.
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Iron and steel industry is a _________.a)Public Sector Industryb)Joint...
Understanding Basic Industries
The iron and steel industry is categorized as a basic industry because of its fundamental role in the economy and infrastructure development. Here’s a detailed explanation:
Definition of Basic Industry
- Basic industries are those that provide essential raw materials for the production of other goods.
- They are foundational for the economy, as they support various sectors including construction, manufacturing, and automobile industries.
Importance of Iron and Steel Industry
- The iron and steel industry produces materials that are crucial for building infrastructures like bridges, buildings, and roads.
- It serves as a backbone for other industries, making it essential for economic growth and development.
Characteristics of Basic Industries
- Raw Material Dependency: Basic industries often rely heavily on natural resources, such as iron ore and coal.
- Investment-Heavy: They require significant capital investment due to the scale of production and technology involved.
- Employment Generation: These industries create numerous job opportunities, contributing to the socio-economic development of regions.
Conclusion
In summary, the iron and steel industry is classified as a basic industry due to its critical role in providing essential raw materials and supporting various sectors of the economy. This classification underscores its importance in driving industrial growth and infrastructure development.
The iron and steel industry is categorized as a basic industry because of its fundamental role in the economy and infrastructure development. Here’s a detailed explanation:
Definition of Basic Industry
- Basic industries are those that provide essential raw materials for the production of other goods.
- They are foundational for the economy, as they support various sectors including construction, manufacturing, and automobile industries.
Importance of Iron and Steel Industry
- The iron and steel industry produces materials that are crucial for building infrastructures like bridges, buildings, and roads.
- It serves as a backbone for other industries, making it essential for economic growth and development.
Characteristics of Basic Industries
- Raw Material Dependency: Basic industries often rely heavily on natural resources, such as iron ore and coal.
- Investment-Heavy: They require significant capital investment due to the scale of production and technology involved.
- Employment Generation: These industries create numerous job opportunities, contributing to the socio-economic development of regions.
Conclusion
In summary, the iron and steel industry is classified as a basic industry due to its critical role in providing essential raw materials and supporting various sectors of the economy. This classification underscores its importance in driving industrial growth and infrastructure development.
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Iron and steel industry is a _________.a)Public Sector Industryb)Joint Sector Industryc)Basic Industryd)Cooperative Sector IndustryCorrect answer is option 'C'. Can you explain this answer?
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Iron and steel industry is a _________.a)Public Sector Industryb)Joint Sector Industryc)Basic Industryd)Cooperative Sector IndustryCorrect answer is option 'C'. Can you explain this answer? for Class 5 2024 is part of Class 5 preparation. The Question and answers have been prepared according to the Class 5 exam syllabus. Information about Iron and steel industry is a _________.a)Public Sector Industryb)Joint Sector Industryc)Basic Industryd)Cooperative Sector IndustryCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 5 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Iron and steel industry is a _________.a)Public Sector Industryb)Joint Sector Industryc)Basic Industryd)Cooperative Sector IndustryCorrect answer is option 'C'. Can you explain this answer?.
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