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InterviewSolution
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What is meant by the term ‘industry’ |
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Answer» y refers to the production of economic goods or SERVICES within an economy.Industries can be classified on the basis of RAW materials, size and ownership* Raw Materials: Industries may be agriculture BASED, MARINE based, Mineral based, Forest based. * Size: It refers to the amount of capital invested, number of people employed and the volume of production. * Ownership: Industries can be classified into private sector, state OWNED or public sector, joint sector and co-operative sector |
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