Classification Of Industries
The classification of industries is as follows:
An industry involved in the extraction and collection of natural resources, such as Agriculture, farming, forestry, fishing, horticulture, etc. A company in a primary industry can also be involved in turning natural resources into final products.
The word ‘genetic’ means hereditary. Genetic industries are engaged in the reproduction, multiplication, and breeding of certain species of plants and animals with the object of earning profit from their sale e.g. plant nurseries, forestry, cattle rearing, poultry, cattle breeding, etc.
The extractive industry is concerned with the extraction of material from the Earth’s Sea and air. It includes raising and collecting natural products of the soil for the subsistence of human beings. Generally, products of extractive industries come in raw form and they are used by manufacturing and construction industries for producing finished products. E.g. mining industry, coal mineral, oil industry, iron ore, extraction of timber and rubber, etc.
Manufacturing industries are engaged in transforming raw materials and semi-finished goods into finished products. The manufacturing process converted extracted articles from soil, air, and water into goods that are useful for consumers e.g. Textiles, Engineering, Chemicals, Sugar industry, paper industry, etc. The manufacturing industry may be sub-divided into the following:
- Analytical Industry
- Synthetically Industry
- Processing Industry
- Assembling Industry
Construction industries take up the work of construction of buildings, bridges, roads, tunnels, dams, canals, etc. This industry is different from all other types of industry because, in the case of other industries, goods can be produced at one place and sold at another place. But goods produced and sold by constructive industry are erected in one place.
The industry that earns profit through given services. In modern times service sector plays an important role in the development of the nation. The main industries, which fall under this category, include the hotel industry, tourism industry, entertainment industry, etc.
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