Question

Classification of business activities meaning definition

Answer 1

business activities are classified into 2 heads

1) industries
2)commerce


industry-->it is a place where production of goods are done.

commerce --> it is the system in which people do work like buying and selling of goods.

INDUSTRIES are further classified as

⭐primary--> which extracts or collect raw materials

1) genetic --> these raw materials are collected from plant n animals by breeding or by natural process.

2) extractive--> these raw materials are extracted from any mines or ores.

⭐ secondary--> these industries do the work of conversion of raw materials into usable goods.

1)manufacturing industries --> does the manufacturing of goods

a) analytical

b) synthetical

c) processing

d) assembling

2)constructive --> these industries do the work of formation of buildings.


⭐ tertiary industries--> these industries provide support to the other two industries.

COMMERCE are classified as

1)trade --> works as a medium between the producer and consumer. work like buying and selling of goods n services are done here.

2) auxiliaries to trade --> provide help and support to the trade