Describe what is meant by Industry

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Question: Describe what is meant by Industry

Industry, the long-term changes in types and distribution of global economic activity. In everyday usage, the term "industry" refers to large manufacturing companies, such as the big multinational car companies. In this article a broader definition of industry will be used, which includes all economic activities, in all sectors, and groups them into three broad categories; primary, secondary, and tertiary.

Types of Industry

Primary Industries

These are the industries responsible for the extraction of natural resources. They comprise agriculture, hunting, fisheries, forestry, mining, and quarrying. A distinction is often drawn between those primary industries concerned with renewable resources such as forests and those concerned with non-renewable ones, such as minerals.

Secondary Industries

Secondary industries engage in the manufacturing and production of goods. The word "secondary" implies that such companies are engaged in the second stage of economic activity. They use the natural resources of the primary industries (and possibly the goods of other secondary industries) to make products. Secondary industries include house-building and the manufacture of clothes, food processing, shoes, luggage, furniture, packaging, chemicals, metal products, machinery, electrical products, electronic products, computers, cars, trains,