Industries
Industries refer to the production of goods or related services within an economy. The major source of revenue of a group or company is the indicator of its relevant industry. The manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and feudal economies.
Classification of Industries[edit | edit source]
Industries can be classified in several ways. One of the common methods is based on the primary, secondary, and tertiary sectors.
- Primary sector of industry - This sector of an economy makes direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas.
- Secondary sector of industry - This sector, also known as the manufacturing sector, takes the raw materials from the primary sector and converts them into finished goods.
- Tertiary sector of industry - This sector, also known as the service sector, involves the provision of services to businesses and consumers. It includes retail, tourism, and banking.
Major Industries[edit | edit source]
Some of the major industries in the world today include:
- Automotive industry - The automotive industry involves the design, development, production, marketing and selling of motor vehicles.
- Pharmaceutical industry - The pharmaceutical industry discovers, develops, produces, and markets drugs or pharmaceutical drugs for use as medications.
- Technology industry - The technology industry includes businesses revolving around the manufacturing of electronics, creation of software, computers or products and services relating to information technology.
- Food industry - The food industry includes all the processes that are involved in getting food from the farm to the dinner table.
See Also[edit | edit source]
- List of largest industries
- Industrial Revolution
- Industrial policy
- Industrial society
- Industrialisation
References[edit | edit source]
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