Nature, Purpose and scope of Business — OCM STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceOCMNature, Purpose and scope of Business5 Marks
Question
Give the meaning of industry and state its types..
✓
Answer
Meaning of Industry :
What is industry? :
To satisfy man’s need, various processes are performed on raw - material of product and on it, the process of adding utility is called industry.
The place where production is carried out is known as factory or industrial unit. e.g. to make cloth from cotton, to make furniture from wood, to make sugar or jaggry from sugar cane juice, to make shoes and chappals from leather, to make various instruments from metal etc.
Characteristics activity :
Main characteristics of industry are as under:
Production activity :
Product produced by human labour and with the help of machines and technology through process, products are manufacturing from natural raw material which satisfy needs of human being.
Economic Activity :
Products manufactured through industry are sold and profit is earned so it is an economic activity.
Alteration in the form of raw material :
human labour and with the help of machinery, size, colour, weight, shape and attributes of raw material is changed and it is made usable,
Production of various items:
various items are made by different types of process on various material.
Besides all this, services too are produced e.g. electricity, production of gas, services if transportation and communication.
Addition in utility :
Raw material is made usable through various process on it so it added utility, to satisfy needs.
Use of machinery :
After the invention of various machinery, through machines large scale production is made possible.
Use of human labour :
Whatever number of modern machinery are used for productions yet human labour is needed when the machines ceases human being are required to put the machine off and on.
Natural resources :
Industrial activities are not possible without natural resources such as metals gained from nature, vegetations, water, oxygen, agricultural product etc.
Types of industry :
There are three main types of industry : $(1)$ primary Industry $(2)$ Secondary Industry $(3)$ Tertiary Industry.
Primary Industry :
Industry which is directly related to land, water and air is called primary industry. e.g. agriculture, poultry farm, animal husbandry, are related to land, fishery is related to water and cylinders of various gases are relates to air.
Natural resources and human labour are more used in this type of industry.
Secondary industry :
Natural resources are made usable through technology and various machinery and are reached to customers through many industries which are called “ secondary industry “.
Many processes are carried out on natural resources to make them usable for customers e.g. textile industry, steel industry chemical industry, glass and ceramic industry, plastic industry etc. Our various needs are fulfilled due to this type of industry.
Tertiary Industry :
the industry which process on the products of primary and secondary industry and makes it more suitable for use is called, Tertiary ‘ industry, means it is associated to that industry.. this type of industry supports other industries.
These industries are directly connected with customers e.g. Industry of making apparels ( clothes ), diary industry, bakery industry, industry of preparing food, bank, insurance, transportation, communication, godown, services providing industry etc.
Conclusion :
In Industry, mechanization has increase in production after invention of various machines, Technical knowledge for this. Without it, variety and quality is not possible to maintain.
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