INDUSTRIES

PRIMARY- extracting raw materials

SECONDARY- manufacturing

TERTIARY- service industry

QUATERNARY- highly specialized industry-R&D and Information and communication technology

Based on the type of industry a person works in….primary, secondary or tertiary

Can be Formal or Informal

Depends on the skill set of an individual.

Positive

Generates employment

Helps increase the revenue

Helps develop infrastructure

Helps improve international relations- role of MNCs/TNCs

Negative

Pollution (air, water, visual)- acid rain

Reduction in agricultural land

Outflow of revenue- MNCs/TNCs

SubsidyTariffFDI- Foreign Direct InvestmentQuotasTrading BlocsProtectionismWTOFairTradeSmall scale and large scale

Manufacturing industry

Hi-tech Industry

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