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Topic 1 - The Industry - Coggle Diagram
Topic 1 - The Industry
What is Industry?
An industry is economic activities performed by people, and organizations in producing goods and services for sale.
Economic activity is the activites in producing, distributing, or consuming products or services which involve money or the exchange of products or services.
Categories of Industries:
Heavy or light
Domestic or foreign
Durable or non-durable
Manufacturing or construction industries
The Economic Sector
Economic: Economics activities which consists of production, consumption and distribution of goods and services.
Economic deals: with production, exchange and consumption of various commodities (supplies) in economic systems.
Economic Resources:
Human (Labor and Management)
Capital (Financial)
Land (Machinery, buildings)
Technology (Infrastructure)
Natural Resources
4 Economy Sector
Primary Sector
Agriculture
Agriculture industry is always seeking to improve, by adopting new technologies.
Forestry
A collective of companies and organizations concerned with forest management and use of forestry resources.
Companies concerned with the certification of environmentally friendly products and supplies.
Fishing
Any industry or activity concerned with taking, culturing, processing, preserving, storing, transporting, marketing or selling fish or fish products.
Fishing is one of the earliest forms of human production.
Mining
Consists of the search for, extraction, beneficiation, and processing of naturally occuring solid minerals from the earth.
Secondary Sector
Construction
A high hazard industry that comprises a wide range of activities involving construction, alteration, and/or repair.
One of the most information-intensive industries, as a major construction process requires extensive exchange of data and information between the project's participants on a regular basics.
Manufacturing
Refers to industries which involve in the manufacturing and processing of items and indulge in either creation of new commodities or in value addition.
Tertiary Sector
Service industry
The tertiary industry is involve the provision of services to businesses as well as final consumers.
Known as tertiary sector or service sector.
Example: Retail, banks, hotels, real estate, education, health, social work, computer services, recreation, media, communications, electricity, gas, water supply.
Quaternary Sector
Finance
Encompasses a broad range of business that manage money.
Insurance
Collection of companies that manage risk for individual health and property by promising to reimburse policyholders for losses in exchange for regular payments.
Healthcare
Provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care.
ICT Services
Covers any product that will store, retrieve, manipulate, transmit, or receive information electronically in a digital form such as personal computers, digital television, email, or robots.