Question: What Is Meant By Industrial Development?

What are the 5 industries?

The 5 Industries Driving the U.S.

EconomyHealthcare.

The health sector helped the U.S.

recover from the 2008 financial crisis.

Technology.

The tech sector is a huge component of the U.S.

economy, according to Cyberstates 2019, an annual analysis of the nation’s industry published by CompTIA.

Construction.

Retail.

Non-durable Manufacturing..

What are the 5 largest industries in the world?

Global Biggest Industries by Revenue in 2020Global Oil & Gas Exploration & Production. … Global Commercial Real Estate. … Global Car & Automobile Sales. … Global Car & Automobile Manufacturing. … Global Direct General Insurance Carriers. … Global Commercial Banks. … Global Auto Parts & Accessories Manufacturing. … Global Tourism. $1,541,0B.More items…

What are the major types of industries?

19 Types of Business Industries – Different types of Industry Aerospace Industry. Transport Industry. Computer Industry. Telecommunication industry. Agriculture industry. Construction Industry. Education Industry. Pharmaceutical Industry.More items…•

What are the 5 types of industries?

Industry sectorsPrimary 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)

What are the harmful effects of industrialization?

Some of the drawbacks included air and water pollution and soil contamination that resulted in a significant deterioration of quality of life and life expectancy. Industrialization also exacerbated the separation of labor and capital.

What is mean by industrial?

: of or relating to industry : of or relating to factories, the people who work in factories, or the things made in factories. : having a developed industry : having factories that actively make a product. : coming from or used in industry : made or used in factories also : stronger than most other products of its kind.

What is an example of industrial?

The definition of industrial is something relating to a large-scale business or a manufacturing business. An example of industrial equipment is a printing press.

Who benefits from industrial development?

Higher economic growth leads to higher tax revenues and this enables the government can spend more on public services, such as health care and education e.t.c. This can enable higher living standards, such as increased life expectancy, higher rates of literacy and a greater understanding of civic and political issues.

What are the 4 types of industries?

There are four types of industry. These are primary, secondary, tertiary and quaternary.

What are the strategies for industrial development?

Under the current situation of industrial structure and of each factory, it is quite difficult for the existing factories to achieve a self-sustained growth; therefore, the adoption of industrial development strategies are limited as follows: 1) to promote the investment from outside of the region, 2) to create a new …

What are industrial activities?

Industrial activities means material handling, transportation, or storage; manufacturing; maintenance; treatment; or disposal.

What is the meaning of industrial development?

SYNOPSIS. Industrial Development is the synthesis of contributions from four major factors, namely, Business, Technology, Government and Labour and successful industrial projects can be achieved only through a close co-operation and mutual understanding between these contributors.

What is the impact of industrial development?

At the same time, industrial processes can have negative environmental impacts, causing climate change, loss of natural resources, air and water pollution and extinction of species. These threaten the global environment as well as economic and social welfare.

What are the 3 types of industries?

In economics, industries are customarily classified as primary, secondary, and tertiary; secondary industries are further classified as heavy and light.

What are the environmental impacts of industry?

At the same time, industrial processes can have negative environmental impacts, causing climate change, loss of natural resources, air and water pollution and extinction of species. These threaten the global environment as well as economic and social welfare.

Why is industrial development important?

Industrial development helps in the rapid growth of national and per capita income. The history of economic development of advanced countries shows that there is a close relation between the level of industrial development and the level of national and per capita income.