Class 11 classification of business activities

Classification Of Business Activities
By
Anshu Chhabra

1. CLASSIFICATION OF BUSINESS ACTIVITIES

2. INDUSTRY MEANING AND TYPES

3. Industry  activities which convert raw material into useful products Primary Industry-> activities concerned with extraction of natural resources and reproduction of living species Types of primary industry A) Extractive Industry  involves extraction of something from natural resources e.g. minerals from earth B) Genetic industry  activities of rearing and breeding of living organisms e.g. rearing of cattle for milk

4. Secondary Industry  By use of raw materials (extracted by primary industry) , produce finished products Types of Secondary Industry 1. Manufacturing Industries  conversion of raw material into finished goods e.g. Sugarcane is converted into sugar Types of Manufacturing Industry a. Analytical industry e.g. Crude oil is processed and many finished products are made such as petroleum , diesel , kerosene etc. b. Synthetic Industry e.g. various chemicals are mixed to make soap c. processing industry e.g. Sugar Industry d. Assembly industry  e.g. manufacturing of computers

5. 2. construction Industry  concerned with construction of buildings , dams , roads etc Types of Construction Industry a. Road Construction b. Dam Construction c. bridge Construction Unique feature is that products cannot transfer or shifted to Market.

6. Tertiary or Service Industry  Concerned with providing services for smooth flow of goods and services 1. Transport  Helps in movement of goods from one place to another 2. Banking or Finance Provide fund for smooth flow of business activities 3. insurance Provides protection from some kind of risk 4. Warehousing  Provides storage place for goods produced by industry 5. Advertising Provides information about products and services to consumers

7. Assessment 1. which type of industry is Banking? 2. give an example of following A. Extractive Industry B. Genetic Industry C. Processing Industry D. Construction industry