Business activities

Business activities are classified

into two categories: (a) industry and (b) commerce. Industry refers to economic activities which are connected with conversion of resources into useful goods. Industries may be: primary, secondary or tertiary. Primary industries are connected with the extraction and production of natural resources and reproduction and development of living organisms, plants, etc.

Primary industries may be: extractive (like mining) or genetic (like poultry farms). Secondary industries are concerned with using the materials which have already been extracted at the primary stage. These industries could be: manufacturing or construction. Manufacturing industries may be further classified into analytical, synthetical, processing and assembling industries. Tertiary industries are concerned with providing support services to primary and secondary industries as well as activities relating to trade. Commerce includes activities relating to trade and auxiliaries to trade. Trade refers to sale, transfer or exchange of goods. It could be classified as internal (domestic) and external (foreign) trade. Internal trade may be wholesale trade or retail trade. External trade could be import, export or entrepot trade. Auxiliaries to trade are activities which assist trade. These include transport and communication, banking and finance, insurance, warehousing, and advertising.