Status of Secondary Sector in Nabarangpur, Odisha
Journal Title: International Journal of Trend in Scientific Research and Development - Year 2021, Vol 5, Issue 5
Abstract
Industry, group of productive enterprises or organizations that produce or supply goods, services, or sources of income. In economics, industries are generally classified as primary, secondary, tertiary, and quaternary secondary industries are further classified as heavy and light. Primary sector of a nation’s economy includes agriculture, forestry, fishing, mining, quarrying, and the extraction of minerals. It may be divided into two categories genetic industry, including the production of raw materials that may be increased by human intervention in the production process and extractive industry, including the production of exhaustible raw materials that cannot be augmented through cultivation. The genetic industries include agriculture, forestry and livestock management and fishing-”all of which are subject to scientific and technological improvement of renewable resources. The extractive industries include the mining of mineral ores, the quarrying of stone, and the extraction of mineral fuels. Primary industry tends to dominate the economies of undeveloped and developing nations, but as secondary and tertiary industries are developed, its share of the economic output tends to decrease. Secondary industry may be divided into heavy, or large scale, and light, or small scale, industry. Large scale industry generally requires heavy capital investment in plants and machinery, serves a large and diverse market including other manufacturing industries, has a complex industrial organization and frequently a skilled specialized labour force, and generates a large volume of output. Examples would include petroleum refining, steel and iron manufacturing see metalwork , motor vehicle and heavy machinery manufacture, cement production, nonferrous metal refining, meat packing, and hydroelectric power generation. Tertiary industry sector includes, among others, banking, finance, insurance, investment, and real estate services wholesale, retail, and resale trade transportation professional, consulting, legal, and personal services tourism, hotels, restaurants, and entertainment repair and maintenance services and health, social welfare, administrative, police, security, and defense services. An extension of tertiary industry that is often recognized as its own sector, quaternary industry, is concerned with information based or knowledge oriented products and services. Like the tertiary sector, it comprises a mixture of private and government endeavours. Industries and activities in this sector include information systems and information technology IT research and development, including technological development and scientific research financial and strategic analysis and consulting media and communications technologies and services and education, including teaching and educational technologies and services. Arun Kumar Tripathy "Status of Secondary Sector in Nabarangpur, Odisha" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45120.pdf Paper URL: https://www.ijtsrd.com/economics/other/45120/status-of-secondary-sector-in-nabarangpur-odisha/arun-kumar-tripathy
Authors and Affiliations
Arun Kumar Tripathy
Keywords
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