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The chapter explores the complex processes involved in transforming raw materials into valuable products through various industries. It discusses the classification of industries based on raw materials, size, and ownership, and highlights the factors affecting industrial location, such as availability of resources and market access. Additionally, the chapter covers the significance of iron and steel industries as foundational to modern economy and the implications of industrial disasters.
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Term: Industry
Definition: An economic activity concerned with the production of goods, extraction of minerals, or provision of services.
Term: Agrobased Industry
Definition: Industries that use plant and animal products as raw materials.
Term: Mineralbased Industry
Definition: Industries that use mineral ores as raw materials for production.
Term: Small Scale Industries
Definition: Industries that use limited capital and technology, often producing smaller volumes of goods.
Term: Iron and Steel Industry
Definition: A major industry that processes iron ore into steel, serving as a foundational element for other industries.