Question

Explain the classification of industries

Answer 1

Answer:

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.

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Answer 2

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.....

Industries are divided into two types, on the basis of the raw materials used. Agro Based Industries: Cotton, wool, jute, silk textile, rubber, sugar, tea, coffee, etc. Mineral Based Industries: Iron and steel, cement, aluminum, petrochemicals, etc..............