Secondary sector of industry

The secondary sector of industry includes those economic sectors that create a finished, usable product: manufacturing and construction. This sector of industry generally takes the output of the primary sector and manufactures finished goods or products to a point where they are suitable for use by other businesses, for export, or sale to domestic consumers. 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.
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Industrial output in 2005
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 which 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 good paying jobs for the middle-class to facilitate greater social mobility for successive generations in an economy.

Divisions of this sector include:

References

1. ^ David Friedman, New America Foundation (2002-06-16).No Light at the End of the Tunnel Los Angeles Times.
2. ^ 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).

See also

Manufacturing (from Latin manu factura, "making by hand") is the use of tools and labor to make things for use or sale. The term may refer to a vast range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw
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construction is the building or assembly of any infrastructure on a site or sites. Although this may not be thought of as a single activity, in fact construction is a feat of multitasking.
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Light industry is usually less capital intensive than heavy industry, and is more consumer-oriented than business-oriented (i.e., most light industry products are produced for end users rather than as intermediates for use by other industries).
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Heavy industry does not have a single fixed meaning as compared to light industry. In general, it is a popular term used within the name of many Japanese firms, meaning 'construction' for big projects.
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Manufacturing (from Latin manu factura, "making by hand") is the use of tools and labor to make things for use or sale. The term may refer to a vast range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw
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Service can refer to:
  • Public services, services carried out with the aim of providing a public good
  • A penetrant, as defined by a building code
  • Service (Systems Architecture), the provision of a discrete business or technology function within a systems environment; i.

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In economics, an export is any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade.
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gross domestic product, or GDP, is one of the ways for measuring the size of its economy. The GDP of a country is defined as the total market value of all final goods and services produced within a country in a given period of time (usually a calendar year).
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Health care, or healthcare, is the prevention, treatment, and management of illness and the preservation of mental and physical well being through the services offered by the medical, nursing, and allied health professions.
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Infrastructure is generally structural elements that provide the framework supporting an entire structure. The term has diverse meanings in different fields, but is perhaps most widely understood to refer to roads, airports, and utilities.
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Engineering is the applied science of acquiring and applying knowledge to design, analysis, and/or construction of works for practical purposes. The American Engineers' Council for Professional Development, also known as ECPD,[1] (later ABET [2]
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developed country, or advanced country, is used to categorize countries with developed economies in which the tertiary and quaternary sectors of industry dominate.
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middle class, in colloquial usage, consists of those people who have a degree of economic independence, but not a great deal of social influence or power. The term often encompasses merchants and professionals, bureaucrats, and some farmers and skilled workers.
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Social mobility is the degree to which, in a given society, an individual's, family's, or group's social status can change throughout the course of their life through a system of social hierarchy or stratification.
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The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide.
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The chemical industry comprises the companies that produce industrial chemicals. It is central to modern world economy, converting raw materials (oil, natural gas, air, water, metals, minerals) into more than 70,000 different products.
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Electronics is the study of the flow of charge through various materials and devices such as, semiconductors, resistors, inductors, capacitors, nano-structures, and vacuum tubes. All applications of electronics involve the transmission of power and possibly information.
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Engineering is the applied science of acquiring and applying knowledge to design, analysis, and/or construction of works for practical purposes. The American Engineers' Council for Professional Development, also known as ECPD,[1] (later ABET [2]
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The energy industry is a generic term for all of the industries involved the production and sale of energy, including fuel extraction, manufacturing fuel and refining, and fuel distribution.
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Petroleum (Latin Petroleum derived from Greek πέτρα (Latin petra) - rock + έλαιον (Latin oleum) - oil) or crude oil
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Gas is one of the four major states of matter, consisting of freely moving atoms or molecules without a definite shape. Compared to the solid and liquid states of matter a gas has lower density and a lower viscosity.
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Electric power is defined as the rate at which electrical energy is transferred by an electric circuit. The SI unit of power is the watt.

When electric current flows in a circuit with resistance, it does work.
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Steel is an alloy consisting mostly of iron, with a carbon content between 0.02% and 1.7 or 2.04% by weight (C:1000–10,8.67Fe), depending on grade. Carbon is the most cost-effective alloying material for iron, but various other alloying elements are used such as manganese and
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The global steel industry has been going through major changes since 1970. China has emerged as a major producer and consumer, as has India to a lesser extent. Consolidation has been rapid in Europe.
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Software engineering is the application of a systematic, disciplined, quantifiable approach to the development, operation, and maintenance of software.[1] The term software engineering
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Telecommunication is the transmission of signals over a distance for the purpose of communication. In modern times, this process typically involves the sending of electromagnetic waves by electronic transmitters, but in earlier times telecommunication may have involved the use of
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The tobacco industry comprises those persons and companies engaged in the growth, preparation for sale, shipment, advertisement, and distribution of tobacco and tobacco-related products.
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