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Different Types of Industries: Meaning, Classification and Differences

What Is Primary Industry?

What Types of People Work in the Primary Sector?

What Percentage of the Workforce Is Employed in the Primary Sector?

How Can the Primary Industry Be Classified?

What Is Secondary Industry?

What Percentage of the Workforce Is Employed in the Primary Sector?

What Are the Classifications of the Secondary Industry?

What Is the Tertiary Industry?

What Are the Differences Between Primary, Secondary & Tertiary Industries?

Concepts of the various types of industries will become even more transparent through the differences discussed in the given table:
Parameters Primary Industry Secondary Industry Tertiary Industry
What does it include? Essentially includes the agriculture and fishing industry. Majorly consists of the manufacturing sector. Wholly service-oriented industry.
Supplies Supplies raw materials for manufacturing and construction. Converts raw materials into useful products and goods. Utilises the products and tools produced through services.
Employment The employment ratio in this industry is higher as India is a developing country. Employment ratio is moderate in this sector as it requires special skills and expertise. Employment is growing swiftly in this sector.
Organisation This sector is the least organised as it employs conventional methods. This sector is comparatively more organised as more efficient and contemporary techniques are incorporated. This is the most organised among the three types as it utilises sophisticated processes

FAQs about Life Cycle Costing