Myha'la
Harper Stern
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- 8. Jerusalem Sep 19, 2022
- Harper receives an unexpected test from Bloom while chasing a life-changing opportunity at Shogun.
- 7. Lone Wolf and Cub Sep 12, 2022
- Harper, Eric, and Rishi team up to pitch their small global force to rival banks.
- 6. Short to the Point of Pain Sep 5, 2022
- When a group of online traders attempts a short squeeze of FastAide, Bloom takes it personally.
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
- GeneratedCaptionsTabForHeroSec
Written and fact-checked byThe Editors of Encyclopaedia Britannica
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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...
Learn about the different types and functions of industries in economics, from primary to quaternary. Find out how industries produce or supply goods, services, or sources of income, and how they are classified and organized.
INDUSTRY meaning: 1. the companies and activities involved in the process of producing goods for sale, especially in…. Learn more.
Learn the meaning and usage of the word industry, which can refer to a field of business, a type of work, or a group of people. Find out the origin, synonyms, and related words for industry on Dictionary.com.
Learn the meaning, pronunciation and usage of the word industry as a noun in English. Find out the different types, collocations and synonyms of industry with pictures and example sentences.
Nov 7, 2023 · An industry is a group of companies that are related based on their primary business activities. Industries are further grouped into sectors, which are broader than industries. Learn how to classify industries using the North American Industry Classification System (NAICS) and the Global Industry Classification Standard (GICS), and how they affect the performance of companies and the economy.
Industry. Industry, a group of productive enterprises or organizations that produce or supply goods, services, or sources of income. In economics, industries are customarily classified as primary, secondary, and tertiary; secondary industries are further classified as heavy and light.
