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  Are you facing problems with your Wi-Fi connection at home cutting in and out, or do you have issues with it running way too slower than it should? The first thing I would suggest and that you may have already done to fix this is to power down your Router for 20 or 30 seconds, then turn it back on again depending on the cause of your problem. This may fix it, but occasionally they hang up for some reason and need to be reset, and powering them off and back on again fixes it.
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Definition of Industry. Discussing its nature and its classification.

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INDUSTRY

Nature and classification of industry- Studentsopedia


Industry refers to that part of business activities which is concerned with the production of want satisfying goods through utilisation of available material resources. Industry utilises the natural resources and brings them into the form useful for final consumption or further use. It means that the industrial activity aims at ensuring the supply of goods in that form which suits the objects, needs and convenience of the persons expected to use them. Thus, industry creates form utility to goods. For example, farms, factories, mines, etc. make available a wide range of goods. These goods cater to the needs and convenience of the people. In a nut shell, the activities of human beings engaged in extraction, production, processing, construction and fabrication of products come under industry. There is another explanation for industry. Under this second explanation, industry means a group of factories usually specialising in a particular product line. For example, all the factories which produce fertilizer are collectively called fertiliser industry. Similarly, all automobile factories together constitute automobile industry. But, in the present context, this approach is not relevant. We adopt the first approach.

Classification of Industry

There are various approaches of classifying industries. All these approaches are listed below.

I- On the basis of the nature of the activity

a) Extractive industries

b) Genetic industries

c) Manufacturing industries

d) Construction industries

 

2- On the basis of the nature of goods produced

a) Consumer goods industries

b) Producer goods industries

 

3- On the basis of the level of investment

a) Heavy industries

b) Light industries

 

4-- On the basis of size of the activity

a) Small scale industries

b) Large scale industries

5 On the basis of area of operations

a) Regional industries

b) National industries

c) Multinational industries

Since the theme of the discussion in this unit is centred around human activity, the classification based on the nature of activity is more appropriate for us. So, let us discuss about the first classification in detail.

a)       Extractive Industries: Activities engaged in the discovery and extraction of natural resources like minerals, animals, plants, trees, etc., from the surface or beneath the surface of the earth or air or water come under this category. Extractive industries are also called exhaustive industries because with every attempt there is a depletion of resources and this wealth exhausts. Mining, farming, quarrying, hunting, fishing, etc., come under this category.

 

b)       Genetic Industries: Activities which are concerned with reproducing and multiplying plants and animals with the objective of earning profit from their sale come under this category. Examples are nurseries which multiply and sell plants, poultry farms, cattle breeding farms, fish culture, etc. There is one important difference between an extractive industry and a genetic industry. In the case of extractive industry, man cannot add to the wealth which he withdraws from the earth, sea, and air. However, in the case of genetic industry, man not only adds to the growth but also reproduces the nature made goods.

 

 

c)        Manufacturing Industries: These types of industries are engaged in the conversion or transformation of raw-materials and semi-finished materials into finished products. Generally, the products of extractive industries become raw-materials for manufacturing industries. In other words, manufacturing industries create 'form utility' to the products of extractive industries. Cement industry, sugar industry, cotton textile industry, iron and steel industry, fertilizer industry, etc., are some examples for manufacturing industries.

 

d)       Construction Industries: These industries are engaged in the construction activities like the construction of buildings, bridges, dams, roads, canals, railway lines, etc. These industries consume the products of manufacturing industries (e.g., bricks, cement, iron and steel) and extractive industries (e.g., quarries, wood). The products of construction industries arc immovable. They are erected, built or fabricated at a fixed site.

Look at Figure 1 for classification of industries with some examples.

 

 

Figure 1

Classification of Industries Based on the Nature of the Activity


Nature and classification of industry- Studentsopedia

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