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Define Industry. Explain with Examples the various Types of Industries

By BYJU'S Exam Prep

Updated on: November 14th, 2023

The industry is the economic activity that converts resources to useful materials. The Types of Industries are primary, secondary, and tertiary. Examples of primary industries are lumbering, mining, and farming, examples of secondary industries are oil refinery and cement industry and examples of tertiary industries are warehousing, insurance, banking, and transport. The industry refers to economic pursuits associated with the transformation of raw materials into usable items.

Table of content

1. Definition and Types of Industry
2. Primary Industries
3. Secondary Industries
4. Tertiary Industries
5. Define Industry. Explain with Examples the various Types of Industries

Definition and Types of Industry

The industry is concerned with animal breeding and raising, as well as the manufacturing or processing of goods and materials. Industries are defined as activities that use mechanical tools and technical knowledge.

Define Industry

The term “industry” can also refer to a group of businesses that produce related or comparable goods. Banking and transportation are examples of services that are sometimes referred to as industries. Primary, secondary, and tertiary are the three basic categories into which industries can be divided.

Primary Industries

These cover all activities involved in producing and using natural resources and raising and reproducing living things like plants. These industries may also include the following subcategories.

Extractive Industries: These enterprises take items from natural sources and extract them. Manufacturing industries typically transform the basic raw materials produced by extractive industries into usable commodities.
Genetic Industries: Breeding plants and animals for use in subsequent reproduction is the focus of these industries. Examples of genetic industries include seed and nursery businesses, cattle breeding operations, poultry operations, and fish hatcheries.

Secondary Industries

These have to do with using raw materials that have already been extracted by the primary sector and processing them to make products for consumers or for additional processing by other industrial units. For instance, the production of steel from iron ore, extracted through mining, a primary industry, creates the secondary industry of steel. The secondary industries can be further divided into the following groups:

Manufacturing Industries

By processing raw materials to create goods for secondary or tertiary consumption, these businesses work to produce form utilities. Manufacturing industries can be further divided into four groups based on the production process.

The analytical industry, such as an oil refinery, analyses and isolates several constituents from the same resources.
Synthetical industries: These industries, like the cement industry, blend different ingredients to create new products.
Processing industries, including the sugar and paper sectors, entail multiple steps in the production of finished goods.
Sectors combine several component parts to create new products, such as the automobile and computer industries.

Construction Industries

The construction of buildings, dams, bridges, roads, tunnels, and canals is a function of these industries. The engineering and architectural sectors are crucial to the construction sector. The growth of infrastructure depends on these businesses.

Tertiary Industries

Trade-related activities and assistance services for primary and secondary industries are included in this. These companies provide spaces for services. These can be seen as a part of commerce because they serve as auxiliary activities and support trade. Transportation, finance, insurance, warehousing, communication, packaging, and advertising are just a few examples of tertiary industries.

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