About This Lesson
Industry refers to an economic activity that is concerned with production of goods, extraction of minerals or the provision of services. Industries can be classified on the basis of raw materials, size and ownership. Large scale industries produce large volumes of products. Investment of capital is higher and the technology used is superior in large scale industries. Industries can be classified into private sector, state owned or public sector, joint sector and cooperative sector. Industrial regions emerge when a number of industries locate close to each other and share the benefits of their closeness.
Good one Archana