Learn further down about what is industry and its types: a few cool cases

General economic theory lists 3 main types of industries. Read through this article to learn more about the different kinds of markets found in any given economy.

Among the different types of industries, the secondary sector involves any business that transforms raw materials that are supplied by the primary industry into a product – that can be a ready for use product, or one that is itself utilized to generate another product. Any firm found in the energy industry would also be classified as being part of the secondary sector. Customarily, this sector includes any companies that uses fossil fuel, electric power or nuclear power to generate their finished product. More newly, many energy companies have begun investing more into producing energy from renewable sources like the wind and sun, which is only natural given the increasing concern over our ecological state. Illustrations of such companies that are active in the renewable energy field consist of Good Energy and Ecotricity.

Any firm that is associated with the extraction of raw materials would be labeled as being part of the primary industry. Some might not consider it that way, but the agricultural industry is one of the types of primary industry since it extracts raw material, that raw material being food. A few examples of companies involved in the agricultural sector consist of Bayer and BASF. Farming has invariably been a big part of any human society, as our existence depended on it before anything else. Currently, this industry is still one of the most important ones in any economy, since it guarantees food security in every country and region. Farming is of course the biggest component of any agricultural industry. These can be publicly owned and operated by the government, or they can be private businesses.

In the classification of industry, the finance sector is an illustration of the tertiary industry. Tertiary industry includes any firm that provides some kind of service instead of a tangible good, so making the finance industry the perfect example of the tertiary industry. Although we do not often think much about the finance industry, it's one that we frequently come into contact with without even realizing. To put it simply, finance is the management of money. Every time we purchase something at a shop, every time we receive our salary, and every time we draw money from an ATM – we utilise the services of the finance sector. All of the above-mentioned examples are amenities offered by a specific form of sector within the finance industry – the banking sector. It's said that ancient temples were the very first organizations to offer services like the ones given in modern times by modern banks. Even today, banks like La Caixa and Banco of East Asia serve a crucial role in a country's economy, as well as the daily life of pretty much any person.

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