Understanding the Market — Entrepreneurship STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market5 Marks
Question
What is manufacturing? Explain its various classes.
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Answer
Manufacturing: The industries which are engaged in the conversion of raw materials into semi-finished or finished goods are referred as manufacturing industry. Manufacturing industry may be classified as,
Analytical: It deals with analysing and separating basic materials for getting distinct final products, for example-separating crude oil into kerosene, petrol, diesel, gasoline, lubricating oil, etc.
Synthetic: It deals with grouping together or synthesizing various raw materials in manufacturing process to produce a final product, for example cement, paint, soap, etc.
Processing: In this industry, a product passes through various processes to become a final product, for example sugar and paper industries.
Integration or Assembling: In this industry, the final product is the outcome of assembling various parts or components together, for example, bicycle, automobile, television, etc.
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