Industries

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Industries

Industries (pronunciation: /ˈɪndəstriːz/) is a term that refers to the production of goods or related services within an economy. The origin of the word comes from the Latin industria, meaning "diligence, activity, industry".

Definition

Industries are generally classified into three types: primary, secondary, and tertiary.

  • Primary industry involves the extraction and harvesting of natural products from the earth, such as agriculture, mining, forestry, and fishing.
  • Secondary industry involves the manufacturing of goods using the raw materials provided by the primary industry. This includes industries like automobile manufacturing, textiles, and food production.
  • Tertiary industry involves the provision of services, including retail, entertainment, and financial services.

Related Terms

  • Industrialization - The process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods.
  • Industrial Revolution - A period of major industrialization that took place during the late 1700s and early 1800s.
  • Industrial Sector - A category of stocks that relate to producing goods used in construction and manufacturing.
  • Industrial Economy - An economy in which the production and sale of goods are the primary focus.

Etymology

The term "industry" comes from the Latin word industria, which means "diligence, activity, industry". It was first used in English in the late 15th century to mean "diligent activity directed to some purpose". The use of the term to mean "systematic work or labor" came about in the 1530s.

See Also

External links

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