ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In simplest sense, industry is an economic activity concerned with the processing of raw materials and manufacture of goods in factories.

Detailed explanation-2: -Manufacturing activities process raw materials to finished products.

Detailed explanation-3: -Industry can be described as an economic activity which is concerned with the production of goods, extraction of minerals or providing services.

Detailed explanation-4: -Industry refers to an economic activity that is concerned with production of goods, extraction of minerals or the provision of services.

Detailed explanation-5: -A secondary activity is concerned with processing and manufacturing. The manufacturing sector concentrates more on processes to make finished products-operations on manufacturing raw materials, in which the raw materials are directly procured through primary activities-for example, agriculture, mining, etcetera.