Industry refers to the production of an economic good In macroeconomics and accounting, a good is contrasted with a service. In this sense, a good is defined as a physical product, capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer, say an apple, as opposed to an (intangible) service, say a haircut. A more general term that preserves the (either material or a service) within an economy An economy consists of the economic system of a country or other area, the labor, capital and land resources, and the economic agents that socially participate in the production, exchange, distribution, and consumption of goods and services of that area. A given economy is the end result of a process that involves its technological evolution,.[1] There are four key industrial economic sectors The economy may be classified into subdivisions called sectors in several ways. Sectors may be further subdivided into subsectors: the primary sector The primary sector of the economy involves changing natural resources into primary products. Most products from this sector are considered raw materials for other industries. Major businesses in this sector include agriculture, agribusiness, fishing, forestry and all mining and quarrying industries, largely raw material extraction industries such as mining Mining is the extraction of valuable minerals or other geological materials from the earth, usually from an ore body, vein or seam. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock salt and potash. Any material that cannot be grown through agricultural processes, or and farming Agriculture is the production of food and goods through farming. Agriculture was the key development that led to the rise of human civilization, with the husbandry of domesticated animals and plants creating food surpluses that enabled the development of more densely populated and stratified societies. The study of agriculture is known as; the secondary sector The secondary sector of the economy includes those economic sectors that create a finished, usable product: production and construction. This was the primary economic sector in America from the 1820s-1940's, involving refining A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value, construction In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of multitasking. Normally the job is managed by the project manager and supervised by the construction manager, design engineer,, and manufacturing Manufacturing is the use of machines, tools and labor to make things for use or sale. Also it can be used for selling things. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale. Such; the tertiary sector The tertiary sector of the economy is one of the three economic sectors, the others being the secondary sector (approximately manufacturing) and the primary sector (extraction such as mining, agriculture and fishing). The general definition of the tertiary sector is producing a service instead of just an end product, in the case of the secondary, which deals with services (such as law Law is a system of rules, usually enforced through a set of institutions. Laws can shape or reflect politics, economics and society in numerous ways and serves as a primary social mediator of relations between people. Contract law regulates everything from buying a bus ticket to trading on derivatives markets. Property law defines rights and and medicine Medicine is the science and art of healing. It encompasses a range of health care practices evolved to maintain and restore health by the prevention and treatment of illness. Before scientific medicine, healing arts were practised in accordance with alchemical treatments and ritual practices that developed out of religious and cultural traditions) and distribution of manufactured goods; and the quaternary sector The quaternary sector of the economy is an extension of the three-sector hypothesis of industry. It principally concerns the following services: information generation, information sharing, consultation, education and research and development. It is sometimes incorporated into the tertiary sector but some argue that intellectual services are, a relatively new type of knowledge industry focusing on technological research, design and development The phrase research and development , according to the Organization for Economic Co-operation and Development, refers to "creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of knowledge to devise new applications" such as computer programming, and biochemistry. A fifth, quinary, sector has been proposed encompassing nonprofit activities. The economy is also broadly separated into public sector The public sector, sometimes referred to as the state sector is a part of the state that deals with either the production, delivery and allocation of goods and services by and for the government or its citizens, whether national, regional or local/municipal and private sector In economics, the private sector is that part of the economy which is both run for private profit and is not controlled by the state. By contrast, enterprises that are part of the state are part of the public sector; private, non-profit organizations are regarded as part of the voluntary sector, with industry generally categorized as private. Industries are also any business or manufacturing.
Industry in the sense of manufacturing became a key sector of production and labour in European Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally divided from Asia to its east by the water divide of the Ural Mountains, the Ural River, the Caspian Sea, the Caucasus region (Specification of borders) and the Black Sea to the southeast. Europe is bordered by the and North American North America is the northern continent of the Americas, situated in the Earth's northern hemisphere and in the western hemisphere. It is bordered on the north by the Arctic Ocean, on the east by the North Atlantic Ocean, on the southeast by the Caribbean Sea, and on the west by the North Pacific Ocean; South America lies to the southeast countries during the Industrial Revolution The Industrial Revolution was a period from the 18th to the 19th century where major changes in agriculture, manufacturing, mining, and transport had a profound effect on the socioeconomic and cultural conditions starting in the United Kingdom, then subsequently spreading throughout Europe, North America, and eventually the world. The onset of the, which upset previous mercantile Mercantilism is an economic theory, thought to be a form of economic nationalism, that holds that the prosperity of a nation is dependent upon its supply of capital, and that the global volume of international trade is "unchangeable". Economic assets are represented by bullion (gold, silver, and trade value) held by the state, which is and feudal Feudalism is a political and military system between a feudal aristocracy , and his vassals. In its most classic sense, feudalism refers to the Medieval European political system composed of a set of reciprocal legal and military obligations among the warrior nobility, revolving around the three key concepts of lords, vassals, and fiefs. Although economies through many successive rapid advances in technology, such as the steel Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten. Carbon and other elements act as a hardening agent, preventing and coal Coal is a readily combustible black or brownish-black sedimentary rock normally occurring in rock strata in layers or veins called coal beds. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure. Coal is composed primarily of carbon along with variable production. It is aided by technological advances, and has continued to develop into new types and sectors to this day. Industrial countries then assumed a capitalist Capitalism is an economic system in which the means of production are privately owned; supply, demand, price, distribution, and investments are determined mainly by private decisions in the free market, rather than by the state through central economic planning or through democratic planning; profit is distributed to owners who invest in economic policy. Railroads Rail transport is the means of conveyance of passengers and goods by way of wheeled vehicles running on rail tracks. In contrast to road transport, where vehicles merely run on a prepared surface, rail vehicles are also directionally guided by the tracks they run on. Track usually consists of steel rails installed on sleepers/ties and ballast, on and steam-powered ships A steamboat or steamship, sometimes called a steamer, is a ship in which the primary method of propulsion is steam power, typically driving propellers or paddlewheels began speedily establishing links with previously unreachable world markets, enabling private companies In the United States, a company is a corporation—or, less commonly, an association, partnership, or union—that carries on an industrial enterprise." Generally, a company may be a "corporation, partnership, association, joint-stock company, trust, fund, or organized group of persons, whether incorporated or not, and any receiver, to develop to then-unheard of size and wealth Wealth is the abundance of valuable resources or material possessions or the control of such assets. The word wealth is derived from the old English wela, which is from an Indo-European word stem. An individual, community, region or country that possesses an abundance of such possessions or resources is known as wealthy. Following the Industrial Revolution The Industrial Revolution was a period from the 18th to the 19th century where major changes in agriculture, manufacturing, mining, and transport had a profound effect on the socioeconomic and cultural conditions starting in the United Kingdom, then subsequently spreading throughout Europe, North America, and eventually the world. The onset of the, perhaps a third of the world's economic output is derived from manufacturing industries—more than agriculture Agriculture is the production of food and goods through farming. Agriculture was the key development that led to the rise of human civilization, with the husbandry of domesticated animals and plants creating food surpluses that enabled the development of more densely populated and stratified societies. The study of agriculture is known as's share.
Many developed countries (for example the UK, the U.S., and Canada) and many developing/semi-developed countries (People's Republic of China, India etc.) depend significantly on industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence.
Clark Colin Grant Clark was a British and Australian economist and statistician who worked in both the United Kingdom and Australia. He pioneered the use of the gross national product ("GNP") as the basis for studying national economies's Sector Model (1950)History
Main article: Industrial history Industry in the sense of professional manufacturing has existed for millennia, since the first cities rose See also: List of countries by industrial production growth rate This is a list of countries by industrial production growth rate mostly based on The World Factbook accessed in May 2009Proto-industry
Main article: Proto-industrialisation Proto-industrialisation is a phase in the development of modern industrial economies that preceded, and created conditions for, the establishment of fully industrial societies. Proto-industrialization was marked by the increasing involvement of agrarian families in market-oriented craft production, mainly through the putting-out system organizedEarly industries involved manufacturing goods for trade. In medieval Europe, industry became dominated by the guilds in cities and towns, who offered mutual support for the member's interests, and maintained standards of industry workmanship and ethical conduct.
Industrial development
Main article: Industrialisation Industrialisation is the process of social and economic change that transforms a human group from a pre-industrial society into an industrial one. It is a part of a wider modernisation process, where social change and economic development are closely related with technological innovation, particularly with the development of large-scale energy and See also: Research and development New product design and development is more often than not a crucial factor in the survival of a company. In an industry that is fast changing, firms must continually revise their design and range of products. This is necessary due to continuous technology change and development as well as other competitors and the changing preference of customers and Protectionism Protectionism is the economic policy of restraining trade between states, through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to discourage imports, and prevent foreign take-over of domestic markets and companies. This policy is closely aligned with anti-globalization, andThe industrial revolution The Industrial Revolution was a period from the 18th to the 19th century where major changes in agriculture, manufacturing, mining, and transport had a profound effect on the socioeconomic and cultural conditions starting in the United Kingdom, then subsequently spreading throughout Europe, North America, and eventually the world. The onset of the led to the development of factories for large-scale production, with consequent changes in society. Originally the factories were steam-powered, but later transitioned to electricity once an electrical grid was developed. The mechanized assembly line An assembly line is a manufacturing process in which parts are added to a product in a sequential manner using optimally planned logistics to create a finished product much faster than with handcrafting-type methods. The assembly line developed by Ford Motor Company between 1908 and 1915 made assembly lines famous in the following decade through was introduced to assemble parts in a repeatable fashion, with individual workers performing specific steps during the process. This led to significant increases in efficiency, lowering the cost of the end process. Later automation Automation is the use of control systems and information technologies reducing the need for human intervention. In the scope of industrialization, automation is a step beyond mechanization. Whereas mechanization provided human operators with machinery to assist them with the muscular requirements of work, automation greatly reduces the need for was increasingly used to replace human operators. This process has accelerated with the development of the computer A computer is a programmable machine that receives input, stores and manipulates data//information, and provides output in a useful format and the robot A robot is an automatically guided machine which is able to do tasks on its own, almost always due to electronically-programmed instructions. Another common characteristic is that by its appearance or movements, a robot often conveys a sense that it has intent or agency of its own.
Declining industries
Main article: Deindustrialisation Deindustrialization is a process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially heavy industry or manufacturing industry. It is an opposite of industrializationHistorically certain manufacturing industries have gone into a decline due to various economic factors, including the development of replacement technology or the loss of competitive advantage. An example of the former is the decline in carriage A carriage is a wheeled vehicle for people, usually horse-drawn; litters and sedan chairs are excluded, since they are wheelless vehicles. The carriage is especially designed for private passenger use and for comfort or elegance, though some are also used to transport goods. It may be light, smart and fast or heavy, large and comfortable manufacturing when the automobile An automobile, motor car or car is a wheeled motor vehicle used for transporting passengers, which also carries its own engine or motor. Most definitions of the term specify that automobiles are designed to run primarily on roads, to have seating for one to eight people, to typically have four wheels, and to be constructed principally for the was mass-produced.
A recent trend has been the migration of prosperous, industrialized nations toward a post-industrial society A post-industrial society is a society in which an economic transition has occurred from a manufacturing based economy to a service based economy, a diffusion of national and global capital, and mass privatization. The prerequisites to this economic shift are the processes of industrialization and liberalization. This economic transition spurs a. This is manifested by an increase in the service sector The tertiary sector of the economy is one of the three economic sectors, the others being the secondary sector (approximately manufacturing) and the primary sector (extraction such as mining, agriculture and fishing). The general definition of the tertiary sector is producing a service instead of just an end product, in the case of the secondary at the expense of manufacturing, and the development of an information-based economy, the so-called informational revolution The term information revolution describes current economic, social and technological trends beyond the Industrial Revolution. In a post-industrial society, manufacturing is relocated to economically more favorable locations through a process of offshoring Offshoring describes the relocation by a company of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Even state governments employ offshoring.
Industrial technology
Main article: Industrial technologyThere are several branches of technology and engineering specialised for industrial application. This includes mathematical models, patented inventions and craft skills. See automation, industrial architecture, industrial design, industrial process, industrial arts and industrial applicability.
Industry and society
Main article: Industrial societyAn industrial society can be defined in many ways. Today, industry is an important part of most societies and nations. A government must have some kind of industrial policy, regulating industrial placement, industrial pollution, financing and industrial labor.
Industrial labour
Main article: Industrial labour Further information: industrial sociology, industrial and organizational psychology, industrial district, and industrial parkIn an industrial society, industry employs a major part of the population. This occurs typically in the manufacturing sector. A labor union is an organization of workers who have banded together to achieve common goals in key areas such as wages, hours, and working conditions, forming a cartel of labor. The trade union, through its leadership, bargains with the employer on behalf of union members (rank and file members) and negotiates labor contracts with employers. This movement first rose among industrial workers.
Industry and war
Main article: Industrial warfareThe industrial revolution changed warfare, with mass-produced weaponry and supplies, machine-powered transportation, mobilization, the total war concept and weapons of mass destruction. Early instances of industrial warfare were the Crimean War and the American Civil War, but its full potential showed during the world wars. See also military-industrial complex, arms industry, military industry and modern warfare.
Industry and the environment
Further information: Pollution and Industrial ecologyOrganization, management, and economics
Main article: Industrial organization Further information: Industrial loan companyIndustry is divided into three sectory. They are:
- Primary
- This involved the extraction of resources directly from the Earth, this includes farming, mining and logging. They don't process the products at all.
- Secondary
- This group is involved in the processing products from primary industries. This includes all factories—those that refine metals, produce furniture, or pack farm products such as meat.
- Tertiary
- This group is involved in the provision of services. They include teachers, managers and other service providers.
As a country develops people move away from the primary sector to secondary and then to tertiary.
Economic views of industry
Philosophers and economists have developed many different views of industry. See physiocrats, Adam Smith, capitalism, Marxism and Colin Clark's Sector model.
Industry sectors and classification
There are many other different kinds of industries, and often organized into different classes or sectors by a variety of industrial classifications.
Industry classification systems used by the government commonly divide industry into three sectors: agriculture, manufacturing, and services. The primary sector of industry is agriculture, mining and raw material extraction. The secondary sector of industry is manufacturing. The tertiary sector of industry is service production. Sometimes, one talks about a quaternary sector of industry, consisting of intellectual services such as research and development (R&D).
Market-based classification systems such as the Global Industry Classification Standard and the Industry Classification Benchmark are used in finance and market research. These classification systems commonly divide industries according to similar functions and markets and identify businesses producing related products.
Industries can also be identified by product: chemical industry, petroleum industry, automotive industry, electronic industry, meatpacking industry, hospitality industry, food industry, fish industry, software industry, paper industry, entertainment industry, semiconductor industry, cultural industry, poverty industry
- labor-intensive industry - capital-intensive industry
- light industry - heavy industry
ISIC
ISIC (Rev.4) stands for International Standard Industrial Classification of all economic activities, the most complete and systematic industrial classification made by United Nations Statistics Division.
ISIC Rev.4 is a standard classification of economic activities arranged so that entities can be classified according to the activity they carry out. The categories of ISIC at the most detailed level (classes) are delineated according to what is, in most countries, the customary combination of activities described in statistical units, and considers the relative importance of the activities included in these classes.
While ISIC Rev.4 continues to use criteria such as input, output and use of the products produced, more emphasis has been given to the character of the production process in defining and delineating ISIC classes.
See also
| Wikimedia Commons has media related to: Industries |
- North American Industry Classification System
- North American Product Classification System
- Standard Industrial Classification
- Industry information
References
Categories: Industry
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Tue, 13 Jul 2010 17:37:41 GMT+00:00
Los Angeles Times (blog) Activision's publishing unit has one of the largest franchises in the gaming industry with Call of Duty, though the top creative talent behind last year's ...
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The pharmaceutical . industry. has witnessed major changes over the past few quarters, with performance being affected by factors like sluggish prescription.
Q. My friend and I have an up and coming photography business. What we need to know is what is the industry standard of pricing for a freelance photographer. We cover weddings, special events, portraitures, and sporting events.
Asked by mccoyniesha - Wed Apr 30 23:37:05 2008 - - 4 Answers - 0 Comments
A. it depends where you are of course i have a hourly rate (min 2 hours per job), a half day and full day rate, anything over that is by negotiation (and very rear). for weddings - which i dont do anymore i would offer 3 options and prices - ask specifically how wedding fotogs do it in your country in another question maybe contact some fotogs in your area and price yourselfs accordingly a
Answered by Blue ladies - Wed Apr 30 23:51:01 2008
