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- DictionaryIn·dus·try/ˈindəstrē/
noun
- 1. economic activity concerned with the processing of raw materials and manufacture of goods in factories: "the competitiveness of American industry"
- 2. hard work: "the kitchen became a hive of industry"
Learn the various meanings and uses of the word industry, from manufacturing activity to diligence in work. See synonyms, examples, word history, and related phrases of industry.
- Overview
- Primary industry
- Secondary industry
- Tertiary industry
- Quaternary industry
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Table of Contents
•Introduction
•Primary industry
This sector of a nation’s economy includes agriculture, forestry, fishing, mining, quarrying, and the extraction of minerals. It may be divided into two categories: genetic industry, including the production of raw materials that may be increased by human intervention in the production process; and extractive industry, including the production of exhaustible raw materials that cannot be augmented through cultivation.
The genetic industries include agriculture, forestry, and livestock management and fishing—all of which are subject to scientific and technological improvement of renewable resources. The extractive industries include the mining of mineral ores, the quarrying of stone, and the extraction of mineral fuels.
This sector, also called manufacturing industry, (1) takes the raw materials supplied by primary industries and processes them into consumer goods, or (2) further processes goods that other secondary industries have transformed into products, or (3) builds capital goods used to manufacture consumer and nonconsumer goods. Secondary industry also includes energy-producing industries (e.g., hydroelectric industries) as well as the construction industry.
Secondary industry may be divided into heavy, or large-scale, and light, or small-scale, industry. Large-scale industry generally requires heavy capital investment in plants and machinery, serves a large and diverse market including other manufacturing industries, has a complex industrial organization and frequently a skilled specialized labour force, and generates a large volume of output. Examples would include petroleum refining, steel and iron manufacturing (see metalwork), motor vehicle and heavy machinery manufacture, cement production, nonferrous metal refining, meat-packing, and hydroelectric power generation.
Molten steel being poured into a ladle from an electric arc furnace, 1940s.
Library of Congress, Washington, D.C. (Digital File Number: LC-DIG-fsac-1a35062)
This broad sector, also called the service industry, includes industries that, while producing no tangible goods, provide services or intangible gains or generate wealth. This sector generally includes both private and government enterprises.
The industries of this sector include, among others, banking, finance, insurance, investment, and real estate services; wholesale, retail, and resale trade; transportation; professional, consulting, legal, and personal services; tourism, hotels, restaurants, and entertainment; repair and maintenance services; and health, social welfare, administrative, police, security, and defense services.
An extension of tertiary industry that is often recognized as its own sector, quaternary industry, is concerned with information-based or knowledge-oriented products and services. Like the tertiary sector, it comprises a mixture of private and government endeavours. Industries and activities in this sector include information systems and informatio...
Jun 5, 2024 · Learn what an industry is, how it is classified into sectors and groups, and how investors use industries to evaluate stocks and ETFs. Find out the difference between industry and sector, and see examples of industries and their codes.
- David Gorton
- 2 min
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Learn the meaning of industry as a noun in different contexts, such as production, type of work and quality. Find out how to use industry in sentences and phrases with other words.
Learn the meaning of industry as a noun, its synonyms, and how to use it in a sentence. Industry can refer to a field of business, a type of work, or a quality of diligence.
Industry is a group of productive enterprises or organizations that produce or supply goods, services, or sources of income. Britannica provides an overview of industry, its types, and its subcategories, as well as encyclopedia articles on various industries and related topics.
Learn the meaning, pronunciation and usage of the word industry in English. Find out the different types, collocations and topics related to industry, such as business, working life and economy.
