Economic Activities
Various activities by which humans attain wealth. There are four types :-
Primary Activities
Production of basic raw materials and food eg. Agriculture and fishing, mining, forestry
Secondary Activites
Processing and Manufacturing of primary goods into finished goods, such as textiles, automobiles, and electronics.
Tertiary Activities
Services eg. Banking, Transportation
Quaternary Activities
Deal in all types of cultural and intellectual activities eg. Research, Education
Consumer Goods
Used by consumers eg. Food, Textiles
Producer Goods
Used by manufacturers to make more goods eg. Machinery, Tools and equipment.
Localisation of Industries
Depends on land, capital, raw materials, energy, govt. policies, labour, environmental clearance, transportation and market.
CLASSIFICATION ON THE BASIS OF RAW MATERIALS
Agro-based
Raw materials are crops eg. Sugarcane, cotton, fruits
Animal-Based
Raw materials are derived from animals, such as meat, dairy products, and wool.
Forest-Based
Raw materials obtained from forests include timber, wood products, and other forest resources.
Marine-based
Based on marine organisms eg. fish industry
Mineral-based
Use various minerals as raw materials eg. Iron and Steel
CLASSIFICATION ON THE BASIS OF SIZE
Large-scale
Industries that require significant capital, workforce, and infrastructure to produce goods in large quantities, often using bulky raw materials like iron and steel.
Medium-Scale
Industries requiring less capital and labor, producing moderate quantities of goods, such as automobiles and electronics.
Small-Scale
Industries using under 5 crore capital, employing few people, producing small quantities for local or foreign markets, e.g., furniture and toys.
Cottage industries
Employ families with hereditary skills eg. handloom, handicrafts
CLASSIFICATION ON THE BASIS OF OWNERSHIP
Public sector
Govt-operated industries at state, central, or local levels; typically heavy industries funded by citizen investments through shares and bonds, e.g., Steel Authority of India.
Private sector
Owned by individuals or groups using their own funds; includes small private industries and joint stock companies governed by the Companies Act, e.g., Tata and Reliance Industries
Joint sector
Industries jointly owned by private entities and the government, sharing resources and profits eg. Maruti Suzuki India Ltd., Hindustan Zinc Ltd. (Indian Govt. & Sterlite Industries Ltd.)
Cooperative Sector
Owned by cooperative societies under Cooperative Societies Act, where members pool resources and share profits.There are two types :-
Consumer Cooperatives
Kaira Milk Producers Union
Producer Cooperatives
CAPEX (Kerala State Cashew Workers Apex Industrial Cooperative Society Ltd.)