Economic Industry
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An Economic Industry is an economic activity category associated with the economic production or economic provision of specific sets of economic raw materials, economic goods, or economic services.
- AKA: Industry (Economics), Economic Industrial Sector, Economic Production Sector.
- Context:
- It can typically organize Economic Industry Production Activities through economic industry value chains.
- It can typically employ Economic Industry Workers with economic industry-specific skill sets.
- It can typically generate Economic Industry Revenue through economic industry market transactions.
- It can typically operate within Economic Industry Regulatory Frameworks for economic industry compliance.
- It can typically develop Economic Industry Standards for economic industry quality control.
- It can typically coordinate Economic Industry Resource Allocation through economic industry planning processes.
- It can typically measure Economic Industry Performance using economic industry metrics.
- It can typically compete in Economic Markets for economic industry market share.
- It can typically transform Economic Industry Inputs into economic industry outputs.
- It can typically require Economic Industry Capital Investment for economic industry infrastructure.
- ...
- It can often form Economic Industry Associations for economic industry collective interests.
- It can often create Economic Industry Innovations through economic industry research and development.
- It can often establish Economic Industry Partnerships for economic industry collaboration.
- It can often influence Economic Industry Policy through economic industry lobbying activities.
- It can often develop Economic Industry Ecosystems with economic industry suppliers and economic industry customers.
- It can often experience Economic Industry Disruption from economic industry technological change.
- It can often consolidate through Economic Industry Mergers and economic industry acquisitions.
- It can often export Economic Industry Products to economic industry international markets.
- It can often adopt Economic Industry Best Practices from economic industry leaders.
- It can often face Economic Industry Barriers to Entry for economic industry new entrants.
- ...
- It can range from being a Labor-Intensive Economic Industry to being a Capital-Intensive Economic Industry, depending on its economic industry labor-to-capital ratio.
- It can range from being a Traditional Economic Industry to being an Emerging Economic Industry, depending on its economic industry technological maturity.
- It can range from being a Local Economic Industry to being a Global Economic Industry, depending on its economic industry geographic scope.
- It can range from being a Regulated Economic Industry to being an Unregulated Economic Industry, depending on its economic industry regulatory oversight level.
- It can range from being a Concentrated Economic Industry to being a Fragmented Economic Industry, depending on its economic industry market structure.
- It can range from being a Cyclical Economic Industry to being a Defensive Economic Industry, depending on its economic industry sensitivity to economic cycles.
- It can range from being a Primary Economic Industry to being a Quaternary Economic Industry, depending on its economic industry value chain position.
- It can range from being a Mature Economic Industry to being a Nascent Economic Industry, depending on its economic industry lifecycle stage.
- ...
- It can integrate with Economic Industry Supply Chain for economic industry resource procurement.
- It can connect to Economic Industry Distribution Network for economic industry product delivery.
- It can interface with Economic Financial System for economic industry capital access.
- It can participate in Economic Market Competition for economic industry market position.
- It can utilize Economic Industry Technology Platforms for economic industry operational efficiency.
- It can comply with Economic Industry Environmental Regulations for economic industry sustainability.
- It can employ Economic Industry Automation Systems for economic industry productivity improvement.
- It can implement Economic Industry Digital Transformation for economic industry competitiveness.
- ...
- Example(s):
- Service Economic Industries demonstrating economic industry service provision, such as:
- Healthcare Industry providing medical services through hospitals, clinics, and pharmaceutical companies.
- Financial Industry encompassing Banking Industry, Insurance Industry, and investment banking services.
- Retail Industry covering food-related retail, consumer goods retail, and e-commerce retail.
- Information Technology Industry including Software Industry, Consumer Electronics Industry, and Cloud Computing Industry.
- Education Industry operating educational institutions from primary schools to universities.
- Hospitality Industry managing hotels, restaurants, and tourism services.
- Professional Services Industry providing legal services, consulting services, and accounting services.
- Telecommunications Industry delivering communication services and network infrastructure.
- Transportation Industry operating airlines, railroads, and logistics services.
- Manufacturing Economic Industries demonstrating economic industry goods production, such as:
- Automotive Industry designing and producing motor vehicles and automotive components.
- Aerospace Industry manufacturing aircraft, spacecraft, and aerospace systems.
- Pharmaceutical Industry developing and producing pharmaceutical drugs and medical devices.
- Food Processing Industry transforming agricultural products into processed food products.
- Electronics Manufacturing Industry producing consumer electronics and industrial electronic components.
- Textile Industry manufacturing fabrics, clothing, and textile products.
- Chemical Industry producing chemical compounds and chemical products.
- Steel Industry producing steel products from iron ore and scrap metal.
- Extractive Economic Industries demonstrating economic industry resource extraction, such as:
- Oil and Gas Industry extracting and refining petroleum products and natural gas.
- Mining Industry extracting minerals, metal ores, and geological materials.
- Forestry Industry harvesting and processing timber resources.
- Fishing Industry harvesting marine resources and aquatic products.
- Quarrying Industry extracting construction materials and aggregates.
- Infrastructure Economic Industries demonstrating economic industry essential service provision, such as:
- Construction Industry building residential structures, commercial buildings, and infrastructure projects.
- Utilities Industry providing electricity, water supply, and waste management services.
- Real Estate Industry developing and managing property assets.
- Pipeline Industry transporting energy resources and liquid commodities.
- Creative Economic Industries demonstrating economic industry creative content production, such as:
- Entertainment Industry producing films, television programs, and streaming content.
- Gaming Industry developing video games and interactive entertainment.
- Publishing Industry producing books, magazines, and digital publications.
- Advertising Industry creating marketing campaigns and brand communications.
- Music Industry producing and distributing musical recordings and live performances.
- Fashion Industry designing and producing clothing collections and accessories.
- Emerging Economic Industries demonstrating economic industry technological innovation, such as:
- Renewable Energy Industry producing solar power, wind power, and alternative energy solutions.
- Biotechnology Industry developing genetic therapies and bio-based products.
- Space Industry providing satellite services and space exploration technology.
- Artificial Intelligence Industry developing AI systems and machine learning applications.
- Blockchain Industry creating distributed ledger technology and cryptocurrency platforms.
- ...
- Service Economic Industries demonstrating economic industry service provision, such as:
- Counter-Example(s):
- Academic Discipline, which focuses on knowledge creation rather than economic production.
- Government Agency, which provides public services without economic profit motive.
- Non-Profit Organization, which pursues social missions rather than economic revenue generation.
- Hobby Activity, which involves personal interests without economic commercial intent.
- Household Production, which creates goods or services for personal consumption rather than economic market exchange.
- Economic Market, which facilitates economic exchange rather than economic production.
- Informal Economy, which operates outside economic industry regulations and economic industry standards.
- See: Economic Sector, Industry Classification System, Economic Market, Industrial Revolution, Economic Value Chain, Industry Lifecycle, Economic Competition, Industry Analysis, Economic Regulation, Industry Disruption, Economic Innovation, Industry Consolidation, Economic Production System, Industry Association, Economic Development.
References
2021
- (Wikipedia, 2021) ⇒ https://en.wikipedia.org/wiki/industry_(economics) Retrieved:2021-3-17.
- 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 the insurance industry. For a single group or company, its dominant source of revenue is typically used to classify it within a specific industry. However, a single business need not belong to one industry, such as when a large business is diversified across separate industries (often referred to as a conglomerate).
Because industries are tied to specific products, processes, and consumer markets, they can evolve over time. One distinct industry (for example, barrelmaking) may become limited to a tiny niche market and mostly absorbed into another industry using new techniques. At the same time, entirely new industries may branch off from older ones once a significant market becomes apparent (as the semiconductor industry developed from the wider electronics industry).
Industry classification is valuable for economic analysis because it leads to largely distinct categories with simple relationships. However, more complex cases, such as otherwise different processes yielding similar products, require an element of standardization and prevent any one schema from fitting all possible uses.
Economic theories group industries further into economic sectors.
- 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 the insurance industry. For a single group or company, its dominant source of revenue is typically used to classify it within a specific industry. However, a single business need not belong to one industry, such as when a large business is diversified across separate industries (often referred to as a conglomerate).
2016
- (Wikipedia, 2016) ⇒ https://en.wikipedia.org/wiki/industry Retrieved:2016-9-27.
- Industry is the production of goods or related services within an economy. [1] The major source of revenue of a group or company is the indicator of its relevant industry. When a large group has multiple sources of revenue generation, it is considered to be working in different industries. Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and feudal economies. This come through many successive rapid advances in technology, such as the production of steel and coal.
Following the Industrial Revolution, possibly a third of the world's economic output is derived that is from manufacturing industries. Many developed countries and many developing semi-developed countries (People's Republic of China, India etc.) depend significantly on manufacturing industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence.
- Industry is the production of goods or related services within an economy. [1] The major source of revenue of a group or company is the indicator of its relevant industry. When a large group has multiple sources of revenue generation, it is considered to be working in different industries. Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and feudal economies. This come through many successive rapid advances in technology, such as the production of steel and coal.
2013
- http://en.wikipedia.org/wiki/Industry
- 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, entertain ent industry, semiconductor industry, cultural industry, poverty industry.
- labour intensive industry - capital-intensive industry
- light industry - heavy industry
- 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, entertain ent industry, semiconductor industry, cultural industry, poverty industry.
2009
- (WordNet, 2009) ⇒ http://wordnetweb.princeton.edu/perl/webwn?s=industry
- S: (n) industry (the people or companies engaged in a particular kind of commercial enterprise) "each industry has its own trade publications"
- S: (n) industry, manufacture (the organized action of making of goods and services for sale) "American industry is making increased use of computers to control production"
- S: (n) diligence, industriousness, industry (persevering determination to perform a task) "his diligence won him quick promotions"; "frugality and industry are still regarded as virtues"