‘Secondary activities’, also known as manufacturing, play a crucial role in the value addition process. When raw materials undergo processing, they transform into products that are of higher utility and value to consumers. For instance, transforming pulp into paper and subsequently paper into a notebook involves stages of manufacturing where the end product holds more value than the initial raw material.

Definition Of Industry

An ‘industry’ relates to an economic activity concerned with the:

Production of goods (like cars or electronics).

Extraction of minerals (like mining coal or iron ore).

Provision of services (like tourism or banking).

Based On Raw Materials