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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 or industry taxonomy is a type of economic taxonomy that classifies companies, ... secondary (manufacturing), and tertiary (services).
Primary sector of the economy (the raw materials industry) Secondary sector of the economy (manufacturing and construction) Tertiary sector of the economy (the "service industry") Quaternary sector of the economy (information services) Quinary sector of the economy (humanitarian services)
Secondary: involves the transformation of raw or intermediate materials into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector. Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in 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.
Alibaba Group Holding, which operates the world's largest e-commerce platform, is seeking to raise up to US$15 billion in Hong Kong, becoming the first company to win approval for a secondary ...
In 2023, the manufacturing industry in the United States accounted for 10.70% of the total national output, employing 8.41% of the workforce. The total value of manufacturing output reached $2.5 trillion. [66] [67] In 2023, Germany's manufacturing output reached $844.93 billion, marking a 12.25% increase from 2022. The sector employed ...
Greetings Fools! In my last article on J.C. Penney Company , I discussed the fundamental health of the big retailer, and compared it to some of its peers. What I concluded was that matters were ...