WEEK 4 Flashcards
- large-scale business activity or a type of productive manufacture or trade.
INDUSTRY
3 MAIN CLASSIFICATIONS OF INDUSTRY
● Primary Industry
● Secondary Industry
● Tertiary Industry
industries extract raw materials directly from the earth and seas.
● Primary Industry
industries process and manufacture products from raw materials
obtained by the primary industry into finished goods.
Secondary Industry
industries provide service. It includes among others, banking, health services, education, civil defense forces, delivery services, and
insurance.
Tertiary Industry
4 TYPES OF BUSINESS INDUSTRY
- Agribusiness
- Manufacturing
- Retail and Services Industry
- International Trade
associated with the large-scale business operation that dabbles in farming, processing, and manufacturing, and/or packaging and support and distribution of various agricultural products.
- Agribusiness
refers to the industry which involves the production and processing of items involved in either creation of new products or the innovation of existing products.
Manufacturing
14 Categories of Manufacturing Industry
- Engineering Industry
- Construction Industry
- Electronics Industry
- Chemical Industry
- Energy Industry
- Textile Industry
- Food and Beverage Industry
- Plastic and Rubber Industry
- Metalworking Industry
- Transport Industry
- Telecommunication Industry
- Wood Industry
- Pulp and Paper Industry
- Printing Industry
deals with the design, improvement, and installation of integrated
systems in the industry
Engineering Industry
is the branch of manufacture and trade based on building,
maintaining, and repairing structures.
Construction Industry
deals with plants/factories that manufacture computers, printed
circuit boards, semiconductors, solar panels, and electric components.
Electronics Industry
is the business of using chemical reactions to turn raw materials, such as coal, oil, and salt, into a variety of products.
Chemical Industry
includes companies involved in the exploration and development of oil or gas reserves, oi and gas drilling, or integrated power firms.
Energy Industry
also known as the apparel industry. Includes both man-made and
broad-woven fabric mills, carpet and rugs, yarn-spinning mills, non-woven fabric facilities, and tire cord and fabric products.
Textile Industry
is a complex, global collective of diverse businesses that
supply most of the food consumed by the world population.
Food and Beverage Industry
involves facilities that manufacture tires, rubber and plastic
hosing, belts gaskets and seals, rubber goods, plastic film and sheet, laminated plastic products, plastic pipe, bottles, foam products, and assorted plastic products.
Plastic and Rubber Industry
is the process of working with metals to create individual parts,
assemblies, or large-scale structures.
Metalworking Industry
includes inland and deep-water ports, airports, light rail, commuter
rail, and freight rail, including maintenance facilities, rail bridges, substations, and rail yards associated with mass-transit systems.
Transport Industry
comprises companies that make communication possible
on a global scale whether through phone or Internet.
Telecommunication Industry
is usually private0 economic sector involved with forestry, logging,
timber trade, and the production of forest products.
Wood Industry
comprises companies that use wood as raw material and
produce pulp, paper, paperboard, and other cellulose-based products.
Pulp and Paper Industry
covers facilities engaged in newspapers publishing and printing,
lithographic printing, and commercial printing.
Printing Industry
the sale of goods to consumers (end users), not for resale, but for use and consumption by the buyer (purchaser).
Retail Industry
4 Roles of the key players in a typical retail supply chain:
a. Manufacturers
b. Wholesalers
c. Retailers
d. Consumer
produce the goods, using raw materials, machinery and equipment, and labor.
a. Manufacturers
purchase finished goods from the manufacturers and sell those goods to retailers in large bulk quantities.
b. Wholesalers
sell the goods in usually small quantities to the end-user at a higher price.
c. Retailers
end user who buys the goods from the retailer for personal use.
d. Consumer
8 Types of Retail Stores
- Department Stores
- Groceries and Supermarkets
- Warehouse Retailers
- Specialty Stores
- Convenience Stores
- Discount Stores
- Mobile Retailer/ Mobile Commerce
- Internet E-tailer
Sell a wide range of merchandise arranged by category into
different sections of the physical retail space.
- Department Stores
sell all types of food and beverage products, and sometimes also home products, clothing, and consumer electronics as well.
- Groceries and Supermarkets
are large no-frills warehouse-type facilities stocked with a large
variety of products packaged in large quantities (usually) and sold at lower-than-retail prices.
- Warehouse Retailers
specialize in a specific category of products.
- Specialty Stores
are usually part of retail locations which sell gasoline primarily, but
also sell a limited range of grocery merchandise and auto care products at a premium “convenience” price.
- Convenience Stores
sell a wide variety of products considered surplus, overruns, phased
out models, broken sizes, or at times slightly damaged merchandise, even near expiry (but not expired) products thereby offering a price discount.
- Discount Stores
uses a smartphone platform to process retail transactions and then delivers the products that are purchased directly to the customers.
- Mobile Retailer/ Mobile Commerce
Sells from an Internet shopping website and delivers the purchases
directly to customers at their homes or workplaces.
- Internet E-tailer
an industry made up of professions that deliver services, or intangible goods, to consumers.
Service Industry
exchange of goods and/or services along international borders
International Trade
4 International Trade
- Exports
- Imports
- Trade Deficit
- Trade Surplus
goods and services produced in one country and sold to other countries
- Exports
goods and services consumed in a country but which have been purchased from other countries
- Imports
imports exceed exports
- Trade Deficit
exports exceed imports
- Trade Surplus
3 Causes of Increase in World Trade
a. Reduction in Trade Barriers
b. Advances in transportation, communication, and technology
c. Proliferation of trade agreements.
