Nature and Scope of Business: Economic Sectors and Activities: Primary, Secondary and Tertiary Industries (For CBSE, ICSE, IAS, NET, NRA 2022)

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Primary Industries

Primary industries refer to activities of extraction of natural resources like coal, oil, minerals etc. and reproduction and development of living organisms like plants and animalistic. Primary industries can be categorized as extractive and genetic industries.

Secondary Industries

Products of primary industries are normally used as raw materials to produce a variety of finished goods. It uses products of primary industry as its raw materials. Activities of secondary industries may be of manufacturing or construction. Manufacturing industries are engaged in producing finished goods out of raw materials or semi-finished products.

Manufacturing industries are divided into the following categories:

  • Analytical Industries: Petrol, diesel, kerosene, lubricating oil
  • Synthetic Industries: industries put together various ingredients and manufacture a new product.
  • Processing Industries: Textile, sugar and paper industries
  • Assembling Industries: scooter, bicycle, radio and television

Tertiary Industries

These industries are basically concerned with generating or processing of various services and facilitate functioning of primary industries and secondary industries as well as activities of trade.

Classification of Industries Based on Nature of Act …

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