Manufacturing Industries - Important Terms And Concepts
Category : 10th Class
Important Terms And Concepts
- Agro Based Industries. Industries that process agricultural raw materials, e.g. Cotton textiles.
- Basic Industry. Industry on which several large-scale and small-scale industries depend, e.g., Iron and steel, chemical industry.
- Consumer Industries. Industries which produce goods like plastics, utensils for the consumption of people.
- Cooperatives. Industries owned and organised by members form a cooperative society who pool their resources for profits and losses, e.g., Amul Delhi Milk Scheme.
- Heavy Industry. These industries use heavy raw materials to produce heavy goods like Heavy Engineering.
- Joint Sector Industries. Industries which are jointly owned by both the state and some private industrialists or firms, e.g., Reliance Chemicals.
- Large Scale Industries. Industries using extensive raw materials, labour and capital investment is more than one crore and power to produce goods on large scale.
- Light Industry. Industries using light raw materials to produce light goods like paper, cotton textiles.
- Manufacturing. An economic activity where raw materials are converted into finished goods with the help of machines.
- Public Sector Industries. An industry in which a state government, or its agencies, undertakes economic activities and controls means of production and distribution, e.g., BHEL.
- Private Sector Industries. Industries owned and run by private individuals like Tata Iron & Steel Company, Reliance Industries.
- Small Scale Industry. The industries employing small number of employees and a capital investment of less than rupees one crore, e.g., readymade garments.