ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Primary Industry involves the economic activities that utilise natural resources like land, water, plants, etc. At the same time, Secondary Industry is a group of economic activities that add value to natural resources. Processes, manufacturing and construction add value.

Detailed explanation-2: -Examples of raw materials include steel, oil, corn, grain, gasoline, lumber, forest resources, plastic, natural gas, coal, and minerals. Raw materials can be direct raw materials, which are directly used in the manufacturing process, such as wood for a chair.

Detailed explanation-3: -Primary industries are those that harvest or extract raw material from nature, such as agriculture, oil and gas extraction, logging and forestry, mining, fishing, and trapping.

Detailed explanation-4: -A raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished goods, energy, or intermediate materials that are feedstock for future finished products.

Detailed explanation-5: -Primary industry This sector of a nation’s economy includes agriculture, forestry, fishing, mining, quarrying, and the extraction of minerals.