O Level Pak Studies - Key Industry Definitions

Flashcards of key vocabulary terms with definitions from the lecture notes.

Raw Material

The basic material from which a product is made.

Refined

Impurities or unwanted elements having been removed by processing.

Processed

Perform a series of mechanical or chemical operations on (something) in order to change or preserve it.

Manufactured

Produced on a large scale using machinery.

Value Added

The addition of features to a basic line or model for which the buyer is prepared to pay extra.

Infrastructure

The basic physical and organizational structures and facilities (e.g. buildings, roads, power supplies) needed for the operation of a society or enterprise.

Services

The action of helping or doing work for someone.

INDUSTRY

A manufacturing unit is known as industry.

PRIMARY INDUSTRY

An industry that is concerned with extracting the natural resources on the earth so that they can be converted into consumable products

SECONDARY INDUSTRY

An industry that takes raw materials as input and creates finished products as output.

TERTIARY INDUSTRY

The part of an industry concerned with the provision of services.

Large Scale Industries

Industries which employ more than 300 workers and their fixed assets exceed 100 million rupees.

Small Scale Industries

Industries which employ 10-50 workers and their fixed assets don't exceed 10 million rupees.

Cottage Industry

A type of industry where 1-5 employees are involved (family members) and fixed assets do not exceed from Rs 1-2 lakh (0.1-0.2 million).

Ginning

The activity of separating cotton seed from lint for further processing in textile industries

Spinning

The process of making yarns from the textile fibre

Weaving

A method of textile production in which two distinct sets of yarns or threads are interlaced at right angles to form a fabric or cloth.

Knitting

A method by which yarn is manipulated to create a textile or fabric

Brick Kiln

A kiln in which raw bricks are baked or burned.

Craft Industry

Business models based on the production of handmade items.

Formal Sector

The people involved in this sector are employees of the government or a firm (not self-employed). They have regular pays and working hours are fixed. Also, the business is legally registered and contributes to the GDP.

Informal Sector

The people are self-employed workers. Their monthly income is variable. Working hours aren't fixed. The business isn't registered with the government tax departments.