Industry Basics: 25 flashcards
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1. What is an industry?
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An industry is an economic activity that processes raw materials into finished goods or provides services.
2. How are industries classified based on raw materials?
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Agro-based, mineral-based, marine-based, and forest-based industries.
3. What are agro-based industries? Give two examples.
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Industries that use agricultural products as raw materials. Examples: cotton textile, sugar industry.
4. What are mineral-based industries? Give two examples.
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Industries that use minerals as raw materials. Examples: iron and steel, cement.
5. What are marine-based industries? Give one example.
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Industries that use products from the sea as raw materials. Example: fish processing.
6. What are forest-based industries? Give two examples.
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Industries that use forest products as raw materials. Examples: paper, furniture.
7. How are industries classified based on their main role?
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Basic or key industries and consumer industries.
8. What are basic or key industries? Give an example.
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Industries that supply their products or components to other industries. Example: iron and steel.
9. What are consumer industries? Give an example.
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Industries that produce goods for direct consumption by consumers. Example: sugar industry.
10. How are industries classified based on capital investment?
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Small-scale industries and large-scale industries.
11. What is a small-scale industry?
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An industry with relatively low capital investment and small workforce, often producing goods like garments or handicrafts.
12. What is a large-scale industry?
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An industry with high capital investment and large workforce, producing goods on a large scale, e.g., iron and steel.
13. How are industries classified based on ownership?
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Public sector, private sector, joint sector, and cooperative sector industries.
14. What is a public sector industry? Give an example.
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An industry owned and operated by the government. Example: Bharat Heavy Electricals Limited (BHEL).
15. What is a private sector industry? Give an example.
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An industry owned and operated by individuals or private companies. Example: Tata Steel.
16. What is a joint sector industry? Give an example.
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An industry owned jointly by the government and private individuals or companies. Example: Maruti Udyog Limited (now Maruti Suzuki).
17. What is a cooperative sector industry? Give an example.
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An industry owned and operated by a group of individuals who are producers or workers. Example: Amul (dairy cooperative).
18. What are the factors affecting the location of an industry?
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Availability of raw materials, labour, capital, power, market, transport, and government policies.
19. Why is the iron and steel industry called a basic industry?
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Because it provides raw materials (steel) to many other industries, such as machines, tools, and transport equipment.
20. What is the significance of the cotton textile industry in India?
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It is one of the oldest and largest industries, providing employment and contributing to exports.
21. What is the significance of the sugar industry in India?
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It is the second largest agro-based industry after cotton textiles, supporting farmers and providing employment.
22. What is the significance of the information technology (IT) industry in India?
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It is a major contributor to India's GDP, exports, and employment, especially in cities like Bengaluru.
23. What are the major industrial regions in India?
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Mumbai-Pune, Hugli, Bengaluru-Tamil Nadu, Gujarat, and Chotanagpur region.
24. What is the role of industries in the economy?
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They contribute to GDP, provide employment, promote exports, and support agriculture and services.
25. What are the challenges faced by industries in India?
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Issues like inadequate infrastructure, shortage of skilled labour, environmental pollution, and competition.
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