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Economists may regard the manufacture of vehicles as a foundational industry and as a bellwether industry. In macroeconomics, an industry is a branch of an economy that produces a closely related set of raw materials, goods, or services. For example, one might refer to the wood industry or to the insurance industry.
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.
Industry (economics), a generally categorized branch of economic activity. Industry (manufacturing), a specific branch of economic activity, typically in factories with machinery. The wider industrial sector of an economy, including manufacturing and production of other intermediate or final goods. The general characteristics and production ...
The Standard Industrial Classification (SIC) was a system for classifying industries by a four-digit code as a method of standardizing industry classification for statistical purposes across agencies. Established in the United States in 1937, it is used by government agencies to
The following outline is provided as an overview of and topical guide to industry: Industry, in economics and economic geography, refers to the production of an economic good or service within an economy.
Traditional examples of industrial policy include subsidizing export industries and import-substitution-industrialization (ISI), where trade barriers are temporarily imposed on some key sectors, such as manufacturing. By selectively protecting certain industries, these industries are given time to learn (learning by doing) and upgrade.
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy.
The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries.
In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction .
The Industrial Age is a period of history that encompasses the changes in economic and social organization that began around 1760 in Great Britain and later in other countries, characterized chiefly by the replacement of hand tools with power-driven machines such as the power loom and the steam engine, and by the concentration of industry in ...