The Secondary Sector: Industry and Its Impact on Economic Growth
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The Secondary Sector: Industry
Definition
The secondary sector encompasses industries that transform raw materials into manufactured goods. This process involves the use of machinery and energy in enclosed spaces like factories, resulting in the mass production of products.
Types of Industry
By Maturity
- Mature: Textile, steel, naval
- Advanced: Biotechnology, microelectronics, telecommunications, robotics
By Destination of Products
- Basic Industries: Convert raw materials into semi-finished products
- Capital Goods Industries: Manufacture products essential for other industries
- Consumer Goods Industries: Produce goods for direct sale to consumers
The Post-Fordist Model
This model emphasizes the development of new technologies and industries, catering to individual... Continue reading "The Secondary Sector: Industry and Its Impact on Economic Growth" »