Industry
Industry refers to the organized economic activity concerned with the production of goods, services, or raw materials. It involves the use of labor, machinery, technology, and capital to create value and meet the needs of consumers, businesses, or governments. Industries form the backbone of national economies and are essential for development, innovation, and employment.
1.Primary Industry:Involves extraction and harvesting of natural resources. Examples: Agriculture, mining, fishing, forestry.
2.Secondary Industry: Focuses on manufacturing and construction—transforming raw materials into finished products. Examples: Steel production, automobile manufacturing, textile mills, construction.
3.Tertiary Industry: Provides services instead of goods. Examples: Retail, healthcare, education, banking, hospitality.