what is industry what are the various classification of industries
Answers
Answer:
Industries can be classified in a variety of ways. At the top level, industry is often classified according to the three-sector theory into sectors: primary (extraction and agriculture), secondary (manufacturing), and tertiary (services). ... Over time, the fraction of a society's industry within each sector changes.Many are used by national and international statistical agencies to summarize economic conditions. They are also used by securities analysts to understand common forces acting on groups of companies, to compare companies' performance to their peers', and to construct either specialized or diversified portfolios.
Answer:
•What is Industry?
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An industry is a group of organizations involved in producing/manufacturing or handling the same type of product and service. So, a group of smartphone manufacturers is known as an industry.
•Classification of industry.
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Classification of Industries-
1. Raw material
Agro-based industries:
These industries use plants and animal-based products as their raw materials. Examples, food processing, vegetable oil, cotton textile, dairy products, and leather industries.
Mineral based industries:
Mineral-based industries are based on mining and use ‘mineral ore‘ as raw material. These industries also provide to other industries. They are used for heavy machinery and building materials.
Marine-based industries:
Marine-based industries use raw materials from sea or ocean. Examples, fish oil.
Forest-based industries:
These industries use raw materials from the forest like wood. The industries connected with forest are paper, pharmaceutical, and furniture.
2. Size
Size of industries are measured by how much money is invested, employee count and goods produced.
These industries use raw materials from the forest like wood. The industries connected with forest are paper, pharmaceutical, and furniture.2. SizeSize of industries are measured by how much money is invested, employee count and goods produced.Small-scale industries:
Small-scale industries have less capital and technology invested in them. There is often manual labour noticed here. Example, Basket weaving, pottery, and handicrafts.
Small-scale industries have less capital and technology invested in them. There is often manual labour noticed here. Example, Basket weaving, pottery, and handicrafts.Large-scale industries:
Largescale industries are the exact opposite of small-scale industries. Here the capital invested is large and advanced technology is in use here. Example, Automobiles and Heavy Machinery.
Largescale industries are the exact opposite of small-scale industries. Here the capital invested is large and advanced technology is in use here. Example, Automobiles and Heavy Machinery.3. Ownership
Largescale industries are the exact opposite of small-scale industries. Here the capital invested is large and advanced technology is in use here. Example, Automobiles and Heavy Machinery.3. OwnershipPrivate sector:
Private industries are businesses that are owned and operated by an individual or group of individuals.
Private industries are businesses that are owned and operated by an individual or group of individuals.Public sector: Public industries are owned and managed by the government. Example, Hindustan Aeronautics Limited (HAL)
Private industries are businesses that are owned and operated by an individual or group of individuals.Public sector: Public industries are owned and managed by the government. Example, Hindustan Aeronautics Limited (HAL)Joint sector industries:
These industries are jointly operated by the state and individuals. Example, Maruti Udyog.
These industries are jointly operated by the state and individuals. Example, Maruti Udyog.Cooperative sector industries:
Cooperative industries are operated by the suppliers, producers or workers of raw material. Example, Amul India.