Q: Why do you think, is industry classified into three levels? Define the levels, giving an example of each.
Answers
Answer:
Industry can be classified into different categories or levels for a better understanding of the different types and for making it easier to study. Although many school textbooks list only three levels, more advanced books classify industry into five levels.
Answer:
Industry can be classified into different categories or levels for a better understanding of the different types and for making it easier to study. Although many school textbooks list only three levels, more advanced books classify industry into five levels.
Industry sectors
Primary sector of the economy (the raw materials industry)
Secondary sector of the economy (manufacturing and construction)
Tertiary sector of the economy (the "service industry")
Quaternary sector of the economy (information services)
Quinary sector of the economy (human services)