Category: Commerce
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Construction industries
Construction industries The industry in which land development is done Repairing, building or renovating Examples: House building Plaza building
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Manufacturing industries
Manufacturing industries The industry where raw materials are converted to finished goods by the use of tools and machines Examples: Car manufacturing Textile manufacturing
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Extractive industries
Extractive industries The extractive industry is concerned with the physical taking out of metals and minerals from the Earth Examples: Mining Quarrying Dredging
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Types of industries
Types of industries Extractive industries Manufacturing industries Construction industries Tertiary industries
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Tertiary production
Tertiary production Tertiary sector is the service industry which only provides services to its customers. Examples: Banking Haircutting Teaching
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Secondary production
Secondary production Secondary sector converts the primary goods into manufactured goods The secondary sector of the economy manufactures finished goods. Examples: Construction Textile production Processing
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Primary production
Primary production Primary sector involves changing natural resources into primary products The primary sector of the economy extracts or harvests products from the earth. Examples: Fishing , mining Farming Forestry
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3 branches of production
Branches of production Primary production Secondary production Tertiary production
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The chain of production
Chain of production The chain of production involves a series of stages, which add value to the end product Production chain is the steps taken to convert raw materials into goods Primary, Secondary and Tertiary
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Importance of production
Importance of production Definition: Creation of value Goods and services are produced to satisfy needs and wants of the people