Industry is the part of an Economy that makes a group of similar good or services. There are several industries across the world. The industries has evolved over years as following: The First Industrial Revolution (Industry 1.0) The First Industrial Revolution also known as Industry 1.0 began in England in 1760s revolutionized industry manufacturing shifting from manual labor…
Category: General
Industry
Industry is a part of Economy that manufactures and produces similar set of goods or services. Categories of Industries Industries are categorized into three categories which is known as three sector model. Primary Industry is the industry that extracts and collect raw materials from natural resources like agriculture, textile, mining. Secondary Industry is the industry…
Economy
An Economy is system within a geographical area that produces, distributes and consumes good or services. A market is where the trading of the goods or services happen between the sellers and buyers. An economy is usually a country and it’s government manages and monitors the economy. An Economy is measured by Gross Domestic Product (GDP) which…