In what various ways can industries be classified? Mention the difference clarification and there sub type
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In what various ways can industries be classified? Mention the difference clarification and there sub type
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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).
Answer:
The different ways in which industries are classified:
(i) On the basis of source of raw materials are classified:
• Agro based industries
• Mineral based industries
(ii) On the basis of their main role
• Basic or key industries
• Consumer industries
(iii) On the basis of capital investment
• Small scale industries
• Large scale industries
(iv) On the basis of ownership
• Public sector
• Private sector
• Joint sector
• Cooperative sector
(v) Based on the bulk and weight of raw material and finished products
• Heavy industries
• Light industries
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