How You Can Define Industry And Its Types?


4 Answers

abdul rehman Profile
abdul rehman answered
It is that part of business activity produces goods or serviced through utilization of the available material resources. Goods or services produced by the industry are use either by the consumers for satisfying their wants or by the producers for further production. Goods, which are used by final consumers, are called consumers goods and the goods, which are used in the consumers are called consumer goods and the goods, which are used in the production of other goods, are called producers goods.

Types of industry
Extractive industries are concerned with supplying commodities, which are extracted from earth. The products of these industries are generally used by manufacturing and constructive industries for making finished goods.
Genetic industries refer to industries under which plants and animals are grown for the purpose of sale to the consumers.
Manufacturing industries are those, which convert the raw materials or semi-finished goods into finished products.

Construction industries are concerned with the construction of building, dams, road and etc. the raw materials that are used by these industries are the products of manufacturing industries.
Business provides not only goods but also services. Services industries do not produce any tangible goods. These are engaged in providing services to the public.
Anonymous Profile
Anonymous answered
Industry comprimises  of all forms of  economic activity.
It basically means large factories and mills .It may inlude agriculture,fishing,lumbering etc.

Answer Question