Question

Define classification of Industries?​

Answer 1

The classification of industries are -

• Large scale industry
• Small scale industry
• Medium scale industry
• Cottage industry

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Answer 2

• Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organisation and traders into industrial groupings based on similar production process similar product or similar behaviour in financial markets.
• National and international statical agencies to summarise economic conditions. securities analysed usage groupings to track common forces acting on groups of companies to compare companies performance to that of their peers ,and to construct either specialised or diversified portfolios.