Question

What do you understand by the term Industry? Explain the various types of industries?

Answer 1

Explanation:

There are four types of industry. These are primary, secondary, tertiary and quaternary. Primary industry involves getting raw materials e.g. mining, farming and fishing. Secondary industry involves manufacturing e.g. making cars and steel. Tertiary industries provide a service e.g. teaching and nursing.

Answer 2

Answer: Industry refers to an economic activity that is concerned with production of goods, extraction of minerals or the provision of services.

Explanation:

There are four types of industry. These are primary, secondary, tertiary and quaternary.

Primary industry involves getting raw materials e.g. mining, farming and fishing.

Secondary industry involves manufacturing e.g. making cars and steel.

Tertiary industries provide a service e.g. teaching and nursing.

Quaternary industry involves research and development industries e.g. IT.

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