Industry is a process of converting inputs into output in order to satisfy the human wants. It produces goods and services to fulfill the human needs. It utilizes various resources like human, financial, physical for the purpose of producing gods and services. It converts, processes, and extracts goods. It can be classified into different types on the basis of process of production and the nature of its output.
A) Primary Industry
B) Secondary Industry
Primary Industry: This type of industry produces crude raw materials either extracting from the beneath the earth or involves in the multiplications of certain species of plants and animals. The output of such industry is generally used as raw materials by the secondary industry. Primary industry is the sources for the raw materials for the secondary industry. Primary industry is further classified into genetic industry and extractive industry. Genetic industry is the industry which involves in the multiplication of certain species of animals and plants. Animal husbandry, for instance, is the primary industry which is related with breeding of different species of animals.
A) Primary Industry
B) Secondary Industry
Primary Industry: This type of industry produces crude raw materials either extracting from the beneath the earth or involves in the multiplications of certain species of plants and animals. The output of such industry is generally used as raw materials by the secondary industry. Primary industry is the sources for the raw materials for the secondary industry. Primary industry is further classified into genetic industry and extractive industry. Genetic industry is the industry which involves in the multiplication of certain species of animals and plants. Animal husbandry, for instance, is the primary industry which is related with breeding of different species of animals.
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