A&M Engineering Plastics

In economics, an industry is usually a subdivision of a broader economic field characterized by a similarly extensive range of goods, services, and raw materials. For instance, one could easily refer to the retailing industry or the mining industry. Within each of these larger industries, however, there are hundreds or even thousands of smaller ind... ustries, all of which are intimately connected to one another. A large portion of the economy, for instance, is composed of these thousands of jobs. They contribute to both the revenue stream and the economy as a whole. In industrial sociology, we refer to this vast economic structure as the primary industry. These primary industries consist of the manufacturing, processing, and distribution of primary resources. The secondary industry on the other hand consists of those activities that result in the distribution of secondary resources. The primary industry also includes the services that are not the direct result of the production and processing of primary resources, such as those that form the output of industrial processes. As we have noted earlier, the primary industry involves the production of primary resources e.g. coal, oil, steel, and other mineral-related commodities. The second industry, the secondary industry, involves the distribution of these resources. In both cases, the distribution serves two distinctly different purposes. In the primary industry, it is used to supply the consumer with the items that he or she needs; in the secondary industry, it is used to facilitate the process by which the resources are processed into useful products. Each of these two industries is intimately connected with the other. For instance, the primary industry may derive its revenues primarily from the sales of primary resources while the secondary industry may derive its revenues from the sale of secondary resources. Both of them are bound to function as cross-owners of each other. As we noted earlier, both the primary industry and the secondary industry may derive ...Read More