Concept and Types of industry

Industry means place where the resources are converted into finished or useful products. There are basically three types of industries.

I) Primary industry

II) Secondary industry

III) Tertiary industry

I) Primary industry: This type of industry involves in the activities related to extraction and production of natural resources. It also performs activities relating to the reproduction and development of living organisms. It is of two types:

  1. Genetic industry: This industry involves breeding of plants and animals for their use in reproduction process like poultry farming, fish hatching.
  2. Extractive industry: This industry performs the activities relating to the extraction of products from natural resources like farming, mining etc.

II) Secondary industry: This industry converts the goods which have been extracted or produced at the primary industry into final products. It is further classified into two parts:

  1. Manufacturing industry: This industry generally makes products for final consumption and helps in creating form utility. It covers four types of industry.
  2. Analytical industry: This type of industry involves in the separation of different elements from the same product. Like in oil refining.
  3. Synthetical industry: This industry involves mixing various products and changing into a new product.
  4. Processing industry: This industry deals in processing of product in further stages like making cheese or butter from milk.
  5. Assembling industry: This industry creates a new product by assembling different parts together like I case of car assembling.

III) Tertiary industry: This type of industry provides support service to the primary as well as secondary industry in trading process.

Industry means place where the resources are converted into finished or useful products. There are basically three types of industries.

  1. Primary industry
  2. Secondary industry
  3. Tertiary industry
  1. Primary industry: This type of industry involves in the activities related to extraction and production of natural resources. It also performs activities relating to the reproduction and development of living organisms. It is of two types; a)Genetic industry: This industry involves breeding of plants and animals for their use in reproduction process like poultry farming, fish hatching.
  2. b) Extractive industry: This industry performs the activities relating to the extraction of products from natural resources like farming, mining etc.

Let us summarize the types of industries by following diagram:

I hope you have understood the meaning of industry and its types.

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