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List the Classifications of business activities.

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Business activities may be classified

into broad categories: industry and 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.