The most important industries are the large-scale, highly developed industries that are able to produce not only for the domestic market but also for trade on the international market. Globalization requires strong exports. The top four industries of the world are Textile Industry, Iron and Steel Industry, Information Technology (IT) Industry and Petroleum Refining Industry. […]
Industrial regions are central places in industrial districts. They are characterized by the geographical concentration of industries, the high density of firms producing similar products, high levels of circulation of people and goods, sharing labour among firms in the same industry, etc. Industrial regions emerge when a number of industries locate close to each other
The industrial system is a term used in economics and industrial engineering. This system consists of inputs, processes and outputs. The inputs are the raw materials, labor and other costs for land, transport, power and other infrastructure. This system is used while studying industrial organization and management. Industrial applications can be of different types, such
NATIONAL PENSION SYSTEM Topic: Government Schemes in news WHY IN THE NEWS? The National Pension System(NPS) will no longer compel investors to convert 40% of their accumulated retirement corpus into an annuity. WHY SUCH A DECISION? Poor yields on annuities and high inflation are translating into negative returns. Annuities are taxable, deducting the tax and
Factors affecting the location of industries are important to the study of industrial location. These factors are basic elements for the setting up of an industry, which determines the locational choices for this plant. These factors include the availability of raw material, land, water, labour, power, capital, transport and market. Geographical Factors that Affecting Location
On the basis of ownership, industries can be classified into the following sectors: (a) Private sector, (b) Public sector or state-owned, (c) Joint sector, (d) Cooperative sector. Private Sector Industries: Private sector includes privately owned business enterprises. Public sector or state owned enterprises comprise government owned organizations. The joint sector comprises of industries which are
Raw Material: Industries under this are agro-based, mineral-based marine-based, and forest-based. The industry is a system of production and distribution of goods and services through the private or public sector. It provides a way of life for hundreds of people, which includes manpower, management, raw materials, machinery, and capital. Size of Industries: Industries can be
Secondary activities are those activities that change raw materials into products of more value. They include services that complement primary activities. For example, manufacturing is a primary activity where it involves converting inputs into outputs of higher value to make goods or provide services. Secondary activities are providing services for people to use the goods
Wheat: Wheat is a cereal grain that is widely cultivated in many parts of the world. Wheat has been one of the most important staple food among human beings for ages. It has high nutritional value. The major producers of wheat are the USA, Canada, Argentina, Russia, Ukraine, Australia, and India. Wheat is extensively cultivated
Subsistence Farming: Subsistence farming is often carried out in areas with marginal soil fertility. The subsistence farmer grows what he needs to eat, but usually not enough to sell or even store for later use. The goal is to sustain the farmer and his family, not to maximize profits. Because of this, subsistence farming is
