Understanding the Market — Entrepreneurship STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market5 Marks
Question
State briefly the various types of Primary industries.
✓
Answer
Primary industry includes those activities which are concerned with extraction, producing and processing or extraction of natural resources. The primary industry can be further classified into following types:
Extractive: This industry is engaged in raising some form of wealth from the soil, climate, air, water or from beneath the surface of the earth. For example, agriculture, fishing, hunting, mining, soil exploration etc. These industries have the following distinctive features:-
These industries are the oldest occupation of human beings and provide raw material to others.
Human beings only collect and cannot add to the wealth extracted from the earth or sea.
Only the location of materials is shifted.
Materials once extracted, cannot be basically replaced.
Genetic: Genetic industry is related to the re-producing and multiplying of certain species of animal and plants with the object of earning profits from their sale. It is concerned with rearing and breeding of animals and birds and growing plants. Nurseries, cattle breeding fish hatcheries, poultry farms etc are a few examples of genetic industry.
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