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Among developed countries, it is an important source of well-paying jobs for the middle class (e.g., engineering) to facilitate greater social mobility for successive generations on the economy. Currently, [when?] an estimated 20% of the labor force in the United States is involved in the secondary industry. [2]
Process manufacturing is a branch of manufacturing that is associated with formulas and manufacturing recipes, [1] and can be contrasted with discrete manufacturing, which is concerned with discrete units, bills of materials and the assembly of components. Process manufacturing is also referred to as a 'process industry' which is defined as an ...
Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final product. The manufacturing process begins with product design, and materials specification. These materials are then modified through manufacturing to become the ...
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
Extraction of petroleum – process by which usable petroleum (oil) is extracted and removed from the earth. Extraction of natural gas – Natural gas is commercially extracted from oil fields and natural gas fields. Water industry – provides drinking water to residential, commercial, and industrial sectors of the economy.
At the heart of America's growth and prosperity are small businesses. Small and mighty, these businesses are vital not only to our communities, but at a broader economic level. See Our List: 100...
The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector (raw materials) and the secondary sector (manufacturing). The tertiary sector consists of the provision of services instead of end ...
The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. [ 1 ] [ 2 ] [ 3 ] The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries .