Industry Meaning and Types of Industry

Industry Meaning and Types of Industry

Industry Meaning and Types of Industry
Industry can be defined as the economic activity concerned with the processing of raw materials and manufacture of goods in factories.

However, an industry is a group of manufacturers or businesses that produce a particular goods or services.

TYPES OR CLASSES OF INDUSTRY
There are four major types of industries.They are as follows:
1.Primary industry
2.Secondary industry
3.Tertiary industry
4.Quatemary industry.

1.PRIMARY INDUSTRY: This is a type of industry that's based on fishing, farming and mining.

2.SECONDARY INDUSTRY: This is a second stage of industry that  produce a usable finished products. And also it involves in a construction purposes.Examples are  Cassava to Garri,palm kernel to palm oil,flour to bread ,leather to shoes or bags etc

3.TERTIARY INDUSTRY: This is the third segment of economy that provides goods and services. Examples are schools, hospitals,financial institutions etc.

4.QUATEMARY INDUSTRY:This is a knowledge - based oriented services of the economic and they are into informations and research purposes.
                                      Sponsor