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The construction industry contributes significantly to many countries' gross domestic products . Global expenditure on construction activities was about $4 trillion in 2012. In 2022, expenditure on the construction industry exceeded $11 trillion a year, equivalent to about 13 percent of global GDP. This spending was forecasted to rise to around ...
In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction.
Industry classification is valuable for economic analysis because it leads to largely distinct categories with simple relationships. Through these classifications, economists are able to compare companies within the same industry to evaluate the attractiveness of that industry.
Economic growth took place mostly in the mining, construction and manufacturing industries. In the economies of modern consumer societies, services, finance, and technology—the knowledge economy—play an increasingly significant role.
The following outline is provided as an overview of and topical guide to industry: Industry, in economics and economic geography, refers to the production of an economic good or service within an economy. [1]
S. Steel Košice (in Slovakia) – a typical example of a heavy industry factory. Heavy industry is an industry that involves one or more characteristics such as large and heavy products; large and heavy equipment and facilities (such as heavy equipment, large machine tools, huge buildings and large-scale infrastructure); or complex or numerous ...
The construction industry is a high-hazard sector, encompassing alteration and repair. Workers are exposed to various serious hazards, such as falling debris, unguarded machinery, heavy equipment, electrocutions, silica dust, and asbestos. [ 11 ]
An economy [a] is an area of the production, distribution and trade, as well as consumption of goods and services.In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. [3]