Explain through flow chart " classification of business activities "
Dear Student
Business activities can be classified as follows:
Business activity is classified in two categories :
1.) Industry:- These are concerned with activities of converting resources into useful goods. Industry is further divided into three categories these are:
a) Primary Industry:- Primary industries include those activities which are connected with production of goods from natural resources. These include Extractive Industries and Genetic Industries
b) Secondary Industries:- These industries produce goods for final consumption or for further processing by other business. These include Manufacturing industries, Construction Industries.
c) Tertiary Industries:- These industry provide support service to both primary and secondary industries.
2.) Commerce:- These include activities of trade and auxiliaries to trade
a) Trade:- Trade means buying and selling of goods. Trade can be Home Trade or Foreign Trade. Foreign trade include Import, Export and Entreport. Home Trade include Wholesale Trade and Retail Trade.
b) Auxiliaries to Trade:- These provide various services to trade like:- Transport, Communication, Warehousing, Insurance, Banking & Finance and advertisement.
Regards
Business activities can be classified as follows:
Business activity is classified in two categories :
1.) Industry:- These are concerned with activities of converting resources into useful goods. Industry is further divided into three categories these are:
a) Primary Industry:- Primary industries include those activities which are connected with production of goods from natural resources. These include Extractive Industries and Genetic Industries
b) Secondary Industries:- These industries produce goods for final consumption or for further processing by other business. These include Manufacturing industries, Construction Industries.
c) Tertiary Industries:- These industry provide support service to both primary and secondary industries.
2.) Commerce:- These include activities of trade and auxiliaries to trade
a) Trade:- Trade means buying and selling of goods. Trade can be Home Trade or Foreign Trade. Foreign trade include Import, Export and Entreport. Home Trade include Wholesale Trade and Retail Trade.
b) Auxiliaries to Trade:- These provide various services to trade like:- Transport, Communication, Warehousing, Insurance, Banking & Finance and advertisement.
Regards