TOPIC 1
THE INDUSTRY

WHAT IS INDUSTRY

An industry is economic activities performed by people, and organizations in producing goods and services for sale.

Example :

Telecommunication industry

Education industry

Media and entertainment

Food industry

TM, Maxis, Celcom

Astro, TV3, RTM

UITM, UKM, Taylor College, UTP

Nestle, Adabi, Gardenia, Restaurants

CATEGORIES

domestic or foreign

durable or non-durable

heavy or light

manufacturing or construction industries

higher capital requirements for business

lower capital requirements for business

located in country - proton

located in oversea - microsoft

produces long lasting products - automobile (car) / aviation (flight)

produces do not long lasting products - food

produce final consumption products - end up in customer's hands (food)

Some manufacturing produce intermediate product-logging

ECONOMIC SECTOR

definition

economics activities which consists of production, consumption and distribution of goods and services.

economic resources

factors used in producing products or providing services

land - machinery & buildings

capital - financial

Technology - infrastructure

Human - labor & management

natural resources - raw materials/fish/oil

4 sector

primary sector

tertiary sector

quaternary sector

secondary sector

includes agriculture, mining and other natural resource industries;
Extracts natural materials and provides raw materials for secondary industry

manufacturing, engineering and construction;
processes raw materials or semi-finished goods into more valuable products.

service industries,
is the provision of services

intellectual activities involving education and research
related to application, manipulation and transmission of information

Mining/Fishing/Farming/Oil

Manufacturing/Construction/Durables/Non-Durables

Banking/Insurance/Tourism/Distribution

Primary industry

AGRICULTURE
cultivating soil; planting; raising, and harvesting crops; rearing, feeding, and managing animals.


❤ Aquaculture - raising private aquatic animals (fish)
❤ Floriculture- growing flowering plants.


❤Horticulture- growing fruits, vegetables, and plants.


FISHING
with taking, culturing, processing, preserving, storing, transporting, marketing or selling fish or fish products

Fishing is one of the earliest forms of human production.

FORESTRY
a collective of companies and organizations concerned with forest management and use of forestry resources. (logging firms, manufacturers who use raw timber products)

MINING
search for, extraction, beneficiation, and processing of naturally occurring solid minerals from the earth.

coal, metals such as iron, copper, or zinc, and industrial minerals such as potash, limestone, and other crushed rocks.


Oil and natural gas extraction is not included in this industry.

Secondary industry

CONSTRUCTION
a high hazard industry that comprises a wide range of activities involving construction, alteration, and/or repair.


residential construction, bridge erection, roadway paving, excavations, demolitions, and large scale painting job

MANUFACTURING
industries which involve in the manufacturing and processing of items and indulge in either creation of new commodities or in value addition.



metals; chemical and petrochemical products; machinery and equipment; wood products, paper, and pulp; cement and other construction materials; light industrial products; and foodstuffs. Enterprises that repair industrial products are also included.

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TERTIARY
🚩involve the provision of services to businesses as well as final consumers.

QUATERNARY
⛔knowledge-based part of the economy - which typically includes services such as information technology, information-generation and -sharing, media, and research and development, as well as knowledge-based services like consultation, education

retail

electricity, gas

recreation

media

computer services

hotels

education

water supply

communications

real estate

banks

social work

health

INSURANCE
refers to a collection of companies that manage risk for individual health and property by promising to reimburse policyholders for losses in exchange for regular payments

ICT SERVICES
The convergence of the telecommunications industry

FINANCE
businesses that manage money

HEALTHCARE
treat patients with curative, preventive, rehabilitative, and palliative care

health insurance

liability insurance

life insurance

First - healthcare equipment and services

Second - Produce biotechnology, pharmaceuticals, and miscellaneous scientific services