What is Industry ? Meaning ↓
The production side of line organisation activity is referred equally industry. It is a line organisation activity, which is related to the raising, producing, processing or manufacturing of products.
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The products are consumer's goods equally good equally producer's goods. Consumer goods are goods, which are used in conclusion past times consumers. E.g. Food grains, textiles, cosmetics, VCR, etc. Producer's goods are the goods used past times manufacturers for producing about other goods. E.g. Machinery, tools, equipments, etc.
Expansion of merchandise in addition to commerce depends on industrial growth. It represents the furnish side of market.
Classification / Types of Industries ↓
There are diverse types of industries. These are mentioned equally follows :-
1. Primary Industry
Primary manufacture is concerned amongst production of goods amongst the manage of nature. It is a nature-oriented industry, which requires really footling human effort. E.g. Agriculture, farming, forestry, fishing, horticulture, etc.
2. Genetic Industry
Genetic industries are engaged inwards re-production in addition to multiplication of certainly spices of plants in addition to animals amongst the object of sale. The principal aim is to earn turn a profit from such sale. E.g. establish nurseries, cattle rearing, poultry, cattle breeding, etc.
3. Extractive Industry
Extractive manufacture is concerned amongst extraction or drawing out goods from the soil, air or water. Generally products of extractive industries come upwardly inwards raw shape in addition to they are used past times manufacturing in addition to structure industries for producing finished products. E.g. mining industry, coal mineral, stone oil industry, atomic release 26 ore, extraction of timber in addition to safe from forests, etc.
4. Manufacturing Industry
Manufacturing industries are engaged inwards transforming raw fabric into finished production amongst the manage of machines in addition to manpower. The finished goods tin dismiss hold upwardly either consumer goods or producer goods. E.g. textiles, chemicals, saccharide industry, newspaper industry, etc.
5. Construction Industry
Construction industries own got upwardly the move of structure of buildings, bridges, roads, dams, canals, etc. This manufacture is dissimilar from all other types of manufacture because inwards instance of other industries goods tin dismiss hold upwardly produced at ane house in addition to sold at about other place. But goods produced in addition to sold past times constructive manufacture are erected at ane place.
6. Service Industry
In modern times service sector plays an of import purpose inwards the evolution of the field in addition to hence it is named equally service industry. The principal industries, which autumn nether this category, include hotel industry, tourism industry, amusement industry, etc.
