Q. Consider the following statements about iron and steel industry:

1. It is called a basic industry.
2. It is called a heavy industry.

Which of the above is / are correct?
Answer: Both 1 and 2
Notes: The iron and steel industry forms the base of all other industries and, therefore, it is called a basic industry. It is basic because it provides raw material for other industries such as machine tools used for further production. It may also be called a heavy industry because it uses large quantities of bulky raw materials and its products are also heavy.