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Economists may regard the manufacture of vehicles as a foundational industry and as a bellwether industry. [1] In macroeconomics, an industry is a branch of an economy that produces a closely related set of raw materials, goods, or services. [2] For example, one might refer to the wood industry or to the insurance industry.
Industry (economics), a generally categorized branch of economic activity Industry (manufacturing) , a specific branch of economic activity, typically in factories with machinery The wider industrial sector of an economy, including manufacturing and production of other intermediate or final goods
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 .
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on ...
Industry plant is a pejorative [1] used to describe musicians who become popular through nepotism, inheritance, wealth, or their connections in the music industry rather than on their own merits. Artists described as industry plants often present themselves as independent and self-made, but are alleged to have their public images manufactured ...
Service industries are those not directly concerned with the production of physical goods (such as agriculture and manufacturing).Some service industries, including transportation, wholesale trade and retail trade are part of the supply chain delivering goods produced in the agricultural and manufacturing sectors to final consumers.
Some criticize industrial policy based on the concept of government failure.Industrial policy is seen as harmful as governments lack the required information, capabilities, and incentives to successfully determine whether the benefits of promoting certain sectors above others exceeds the costs and in turn implement the policies. [29]
The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. [ 1 ] [ 2 ] It is one of the world's largest industries by revenue (from 16% such as in France up to 40% to countries such as Slovakia).