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Product classification or product taxonomy is a type of economic taxonomy which organizes products for a variety of purposes. However, not only products can be referred to in a standardized way but also sales practices in form of the “Incoterms” and industries can be classified into categories. [1] Some standard product classifications include:
An economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy demands the use of a taxonomic/classificatory approach. [1]
Product classification; A. Acceptable Identification of Goods and Services Manual; C. Central Product Classification; Classification of Individual Consumption ...
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.
The United Nations Standard Products and Services Code (UNSPSC) is a taxonomy of products and services for use in eCommerce. It is a four-level hierarchy coded as an eight-digit number, with an optional fifth level adding two more digits. The latest release (August 14, 2023) of the code set is 26.0801. [1]
The Central Product Classification (CPC) is a product classification for goods and services promulgated by the United Nations Statistical Commission. It is intended to be an international standard for organizing and analyzing data on industrial production , national accounts , trade , prices and so on.
Product classifications (2 C, 17 P) Pages in category "Economic taxonomy" The following 7 pages are in this category, out of 7 total. ... Standard International Trade ...
Taxonomy is a practice and science concerned with classification or categorization. Typically, there are two parts to it: the development of an underlying scheme of classes (a taxonomy) and the allocation of things to the classes (classification).