Question

Classification of Industries ​

Answer 1

Explanation:

Industry classification or industry taxonomy is a type of economic taxonomy that organizes companies into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.

Answer 2

$</p><p></p><p>{\huge{\green{\underline{\underline{Classification:-}}}}}</p><p></p><p>$

I. On the Basis of Strength of Labour:

1. Large Scale Industry:

Industries which employ a large number of labourers in each unit are called large-scale industries. Cotton or jute textile industries are large scale industries.

2. Medium Scale Industries:

The industries which employ neither very large nor very small number of labourers are put in the category of medium scale industries. Cycle industry, radio and television industries are some examples of medium scale industries.

3. Small Scale Industries:

Industries which are owned and run by individuals and which employ a small number of labourers are called small scale industries.

II. On the Basis of Raw-Material and Finished Goods:

Industries classified on the basis of raw materials and finished goods are:

1. Heavy Industries:

Industries which use heavy and bulky raw-materials and produce products of the same category are called heavy industries. Iron and steel industry presents a good example of heavy industries.

2. Light Industries:

The light industries use light raw-materials and produce light finished products. Electric fans, sewing machines are light industries.

.

.

_____________________

Follow Me ✌️♥️♥️♥️

_____________________

( ╹▽╹ )