explain with suitable examples how a basic industry is different from a consumer industry . In your opnion which one of thetwo should be given priority and why?
Answers
Hey there ,
Basic industry - it plays a vital role in forming other industries .
- It is the base/primary industry of all industries
- eg. iron and steel industry
- they provide raw material to other industries
consumer industry - i also plays an imp. role in industries
- here , Industrial goods are made up of machinery, manufacturing plants and materials, and any other good or
- Consumer goods are not used in the production of other goods.
In my opinion consumer industry should be given priority because it sells direct without following the chain of distribution.