An industry is a group of companies that are related based on their primary business activities. In modern economies, there are dozens of industry classifications. Industry classifications are typically grouped into larger categories called sectors.
In a primary industry, the economic activities usually depend on the environment of that specific region. The economic activities in a primary industry revolve around the usage of the natural resources of the planet like vegetation, water, minerals, earth, etc. In this industry, the major economic activities are harvesting and hunting, fisheries, pastoral activities, mining, agriculture, extraction, and afforestation. The people engaged in working in the primary industry are generally referred to as red-collar workers.
In a secondary industry, the economic activities revolve around adding value to the natural resources by transforming the various raw materials into usable and valuable products. This is done via several processing, manufacturing, and construction industries. The workers belonging to this industry are generally referred to as blue-collar workers.
In a tertiary industry, the major economic activities include exchange and production. Production usually involves the “provision” of a large array of services consumed on a large scale by millions of consumers. When we talk of exchange, this involves transportation, trade, and communication facilities that are often used to overcome distances. The workers belonging to this sector are generally referred to as white-collar professionals.
Few of the examples of Industries and Sectors -
Agriculture; plantations; other rural sectors.
Basic Metal Production.
Financial services; professional services.
Food; drink; tobacco. , etc.