What are the types of industries and their classifications?

Understand the Problem

The question is asking for an overview of the types of industries and their classifications based on their roles in production and commerce. It is focusing on primary, secondary, and tertiary industries, along with definitions and examples.

More Information

Industries can be further subdivided into specific categories. Primary industries focus on extraction and natural resources, secondary industries on manufacturing, and tertiary industries on services provision.

Tips

A common mistake is confusing the primary and secondary industries, as both deal with raw materials, but primary industries involve extraction and production, whereas secondary industries involve processing.

Sources

• Industry: Classification, Types, Distribution and ... - toppr.com
• Classification of Industry Explained - Shiksha Online - shiksha.com
• Industry definition in Business - Investopedia - investopedia.com