An industry is a specific branch of economic activity centered around the production, manufacturing, or supply of goods and services. It groups similar businesses and organizations together based on their primary commercial activities.
Economists categorize global industry into four distinct sectors: 1. Primary Industry (Extraction)
Definition: Focuses on collecting and harvesting natural resources directly from the earth.
Examples: Agriculture, mining, forestry, oil extraction, and fishing. 2. Secondary Industry (Manufacturing)
Definition: Transforms raw materials from the primary sector into finished consumer products or industrial goods.
Examples: Automotive assembly, textile production, construction, and aerospace manufacturing. 3. Tertiary Industry (Services)
Definition: Provides commercial, professional, and personal services directly to consumers or other businesses.
Examples: Banking, healthcare, hospitality, entertainment, retail, and education. 4. Quaternary Industry (Knowledge & Tech)
Industries in Alphabetical Order : U.S. Bureau of Labor Statistics
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