Growth of industries leads
to increase in production of goods and services
which are available to people at cheaper rates. It reduces dependence on other countries and improves economy. It results in rising the standard of living. It creates new job opportunities helping in the removal of unemployment.
Why are industries important write in four points?
Industries are
the backbone of our country
.
They help in modernising agriculture. Industries reduce the heavy dependence of people on agriculture by providing them jobs. Industrial development is a pre-condition for eradication of unemployment and poverty from the country.
What are the importance of an industry?
1. industries
help in modernizing agriculture which forms the backbone of our economy
. 2. industrial also reduces the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sector.
What is industry and why is it important?
– EMPLOYMENT GENERATION: Industry is
an important source of job creation
. Even with the country’s economic crisis, with industry being one of the sectors that suffered the most, it still plays an important role in the development of the economy.
What is the importance of industry in the society?
The industry is a fundamental activity in the economy of any country, and it’s responsible for
the processing and the transformation of natural products (raw materials) into other finished and semi-finished products
.
What are the 4 types of industry?
There are four types of industry. These are
primary, secondary, tertiary and quaternary
.
How do industries help us?
Industrialisation of the economy has been
helping the nation to attain self-reliance
. Production of various important goods and successful implementation of import substitution measures have helped the country to minimize its dependence on foreign imports. This has helped the country to save precious foreign exchange.
What are the importance of medium and large scale industries?
Importance of Medium and Large Scale Industries
Provides Employment Opportunities
: Development of medium and large scale industries help to remove the problem of unemployment by creating a wide range of employment opportunities to unskilled, semi-skilled and highly skilled human resources.
What is the significance of industry analysis?
Importance of Industry Analysis
Industry analysis, as a form of market assessment, is crucial because it
helps a business understand market conditions
. It helps them forecast demand and supply and, consequently, financial returns from the business.
What is the importance of IT industry class 10?
(i)
It has provided employment to over one million people
. (ii) This industry is said to be a major foreign exchange earner. (iii) It has helped in the growth of the service sector. (iv) It provides employment to innumerable men and women.
Why Industry 4.0 is real and important?
Industry 4.0 technology helps
you manage and optimize all aspects of your manufacturing processes and supply chain
. It gives you access to the real-time data and insights you need to make smarter, faster decisions about your business, which can ultimately boost the efficiency and profitability of your entire operation.
What are three major types of industries?
- Primary industry. The primary industry includes the economy that utilises the natural resources of the environment like forestry, agriculture, fishing, and mining. …
- Secondary industry. …
- Tertiary industry.
What are the 5 industries?
- Healthcare. …
- Technology. …
- Construction. …
- Retail. …
- Non-durable Manufacturing.
What are the major types of industries?
- Primary sector of the economy (the raw materials industry)
- Secondary sector of the economy (manufacturing and construction)
- Tertiary sector of the economy (the “service industry”)
- Quaternary sector of the economy (information services)
- Quinary sector of the economy (human services)
How do industries hurt our country?
Industrialization typically leads
to the migration of workers to cities, automation and repetitive tasks
. … Rapid urbanization brought on by industrialization typically leads to the general deterioration of workers’ quality of life and many other problems for society, such as crime, stress and psychological disorders.
What are the 5 factors of industrialization?
Factors that influence industrialization include
natural resources, capital, workers, technology, consumers, transportation systems, and a cooperative government
.
