Secondary sector of the economy

Economic sectors
Three-sector hypothesis
Primary sector: raw materials Secondary sector: manufacturing Tertiary sector: services
Theorists
Colin Clark · Jean Fourastié
Additional sectors
Quaternary sector · Quinary sector
Sectors by ownership
Business sector · Private sector · Public sector · Voluntary sector
v · production and construction. Function This sector generally takes the output of the primary sector and manufactures finished goods. These products are then either exported or sold to domestic consumers and to places where they are suitable for use by other businesses. This sector is often divided into light industry and heavy industry. Many of these industries consume large quantities of energy and require factories and machinery to convert the raw materials into goods and products. They also produce waste materials and waste heat that may pose environmental problems or cause pollution. . . . . Some economists contrast wealth-producing sectors in an economy such as manufacturing with the service sector which tends to be wealth-consuming.[1] Examples of service may include retail, insurance, and government. These economists contend that an economy begins to decline as its wealth-producing sector shrinks.[2] Manufacturing is an important activity to promote economic growth and development. Nations that export manufactured products tend to generate higher marginal GDP growth, which supports higher incomes and marginal tax revenue needed to fund the quality-of-life initiatives such as health care and infrastructure in the economy. The field is an important source for engineering job opportunities. Among developed countries, it is an important source of well-paying jobs for the middle class to facilitate greater social mobility for successive generations of the economy. List of countries by Industrial output Main article: List of countries by GDP sector composition Below is a list of countries by industrial output in 2010. Output is in millions of US$. Rank Country Output in nominal GDP —   World 19,313,147 —  European Union 4,070,558 1  United States 3,239,374 2  China 2,756,903 3  Japan 1,359,259 4  Germany 921,749 5  Brazil 560,204 6  Russia 539,149 7  Italy 519,944 8  United Kingdom 489,945 9  France 477,767 10  Canada 413,975 Rank Country Output in PPP GDP —   World 22,799,316 1  China 4,730,197 —  European Union 3,792,605 2  United States 3,239,374 3  Japan 1,073,073 4  India 1,067,883 5  Russia 818,048 6  Germany 817,441 7  Brazil 582,112 8  South Korea 573,484 9  Mexico 510,995 10  Indonesia 484,045 See also Economics portal Manufacturing Three-sector hypothesis Industrial policy De-industrialization crisis Industry information References ^ David Friedman, New America Foundation (2002-06-16).No Light at the End of the Tunnel Los Angeles Times. ^ Sir Keith Joseph, Center for Policy Studies (1976-04-05).Stockton Lecture, Monetarism Is Not Enough, with forward by Margaret Thatcher. (Barry Rose Pub.) Margaret Thatcher Foundation (2006). Wikimedia Foundation. 2010. Игры ⚽ Нужен реферат? Primary sector of the economy Imaginary number Look at other dictionaries: Primary sector of the economy — The primary sector of the economy generally involves changing natural resources into primary products. Most products from this sector are considered raw materials for other industries. Major businesses in this sector include agriculture,… …   Wikipedia Tertiary sector of the economy — Economic sectors Three sector hypothesis Primary sector: raw materials Secondary sector: manuf …   Wikipedia secondary sector — noun The sector of the economy that principally uses raw materials produced by the primary sector for sale and use by other sectors …   Wiktionary secondary sector — UK US noun [S] ► ECONOMICS, PRODUCTION the part of a country s economy that manufactures goods, rather than producing raw materials → Compare PRIMARY SECTOR(Cf. ↑primary sector), TERTIARY SECTOR(Cf. ↑tertiary sector) …   Financial and business terms Economy of South Korea — The economy of South Korea is the third largest in Asia and the 13th largest in the world by GDP (PPP) as of 2007. In the aftermath of the Korean War, South Korea grew from a poor developing country to a wealthy developed country. From the mid to …   Wikipedia Economy of Wales — The Economy of Wales. In 2004, according to ONS provisional data, headline gross value added (GVA) in Wales was £39,243m, making the Welsh economy the tenth largest of the UK s twelve regions (counting Wales, Scotland and Northern Ireland… …   Wikipedia Economy of England — The Economy of England is the largest economy of the four constituent countries of the United Kingdom.England is a most highly industrialised country. It is an important producer of textiles and chemical products. Although automobiles,… …   Wikipedia Economy of Isan — The economy of Isan is dominated by agriculture, although output is poor and this sector is decreasing in importance at the expense of trade and the service sector. Most of the population is poor and badly educated. Many labourers have been… …   Wikipedia Three-sector hypothesis — The three sector hypothesis is an economic theory which divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and services (tertiary). It was developed by Colin Clark and Jean… …   Wikipedia Economy of the Republic of Ireland — The economy of the Republic of Ireland is modern and trade dependent with growth averaging a 7% per annum in 1995 ndash;2007. Agriculture, once the most important sector, is now dwarfed by industry, which accounts for 46% of GDP, about 80% of… …   Wikipedia 18+ © Academic, 2000-2024 Contact us: Technical Support, Advertising Dictionaries export, created on PHP, Joomla, Drupal, WordPress, MODx. Mark and share Search through all dictionaries Translate… Search Internet Share the article and excerpts Direct link … Do a right-click on the link above and select “Copy Link”