types of industries Related: Business and Profession - Nature and Purpose of Business, Business Studies (BST), CBSE Class 11

Question

types of industries Related:  Business and Profession - Nature and Purpose of Business, Business Studies (BST), CBSE Class 11

Answer

There r three types of industries :1- Primary Industry- It's include all those industries which r concerned with extraction of natural resources nd reproduction of living species.

2-Secondary Industry - It's refer to industries which convert raw material into finished product.

3- Tertiary industry - It's concerned with providing services which facilitate a smooth flow of goods and services.

Answer

There are three types of industries.
1). PRIMARY INDUSTRY
2). SECONDARY INDUSTRY
3). TERITARY INDUSTRY

Answer

Types of Industries
- Primary Industry: This sector includes activities related to the extraction and production of raw materials such as mining, agriculture, fishing, and forestry. Primary industries are essential as they provide the basic resources for other industries.
- Secondary Industry: Also known as the manufacturing sector, these industries involve the processing of raw materials into finished goods. Examples include automobile manufacturing, textile production, and electronics assembly.
- Tertiary Industry: This sector consists of service-based industries that provide intangible goods such as healthcare, education, banking, and retail. Tertiary industries focus on providing services rather than producing physical products.
- Quaternary Industry: Quaternary industries involve knowledge-based activities such as research and development, information technology, and consulting services. These industries rely on intellectual capital and expertise to create value.
- Quinary Industry: The quinary sector includes high-level decision-making roles in government, academia, and business. This sector comprises top executives, policymakers, and influential individuals who shape the direction of industries and economies.
Each industry plays a crucial role in the economy by contributing to the overall production and distribution of goods and services. Understanding the different types of industries can help individuals and businesses identify opportunities for growth and development in various sectors.

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