Answer:
The purpose of industry is to create form utility by converting raw materials into useful forms of finished products. An industry may produce consumer goods or capital goods. Goods such as bread, butter, cloth, radio, etc
Classification of Business Activities
Business is the buying, selling & exchange of goods & services for-profit service or motive is commonly known as business. The term business is derived from the word ‘busy’. In a specific sense, business activities refer to any occupation in which people regularly engage in an activity with a view to earning the profit. Let us take a look at the classification of business activities.
Classification of Business Activities
Into two broad categories, various business activities can be classified-
-Industry
-Commerce
