Industry Category

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In economics, industries are generally classified into several categories:

  • Primary Industry:
    • This sector includes activities such as agriculture, forestry, fishing, mining, quarrying, and the extraction of minerals.
    • It can be further divided into:
      • Genetic industry: Involves the production of raw materials that can be improved through human intervention.
      • Extractive industry: Deals with exhaustible raw materials that cannot be augmented through cultivation.
  • Secondary Industry (Manufacturing Industry):
    • Secondary industry processes raw materials from primary industries into consumer goods.
    • It also includes the production of capital goods used in manufacturing.
    • Examples: Steel manufacturing, automobile production, and cement manufacturing.
  • Tertiary Industry:

Also known as the service industry, it provides services rather than tangible goods. Examples: Retail, banking, healthcare, and education.

  • Quaternary Industry:

This sector involves knowledge-based activities such as research, information technology, and consulting. In summary, industries play a crucial role in economies, contributing to production, employment, and overall growth