Explain with suitable examples how a basic industry is different from a consumer industry in your opinion which one of the two should be given priority and why?
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The main resource of a knowledge-based company is the knowledge. This company is focused on knowledge creation, acquisition, learning, use, sharing, integration, exploitation and protection in order to achieve economic and social performance.
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Basic industries are those which make raw materials and send them to various other industries for making finished products out of them
Consumer industries are those who make finished products and goods to be sold directly in the market to the consumers
The consumer industry is definitely better than the former as goods are ready there to be sold in the market and does not require further work.
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