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Industry (economics), a generally categorized branch of economic activity Industry (manufacturing) , a specific branch of economic activity, typically in factories with machinery The wider industrial sector of an economy, including manufacturing and production of other intermediate or final goods
Jargon, also referred to as "technical language", is "the technical terminology or characteristic idiom of a special activity or group". [8] Most jargon is technical terminology (technical terms), involving terms of art [9] or industry terms, with particular meaning within a specific industry.
Economists may regard the manufacture of vehicles as a foundational industry and as a bellwether industry. [1] In macroeconomics, an industry is a branch of an economy that produces a closely related set of raw materials, goods, or services. [2] For example, one might refer to the wood industry or to the insurance industry.
In 2023, the manufacturing industry in the United States accounted for 10.70% of the total national output, employing 8.41% of the workforce. The total value of manufacturing output reached $2.5 trillion. [66] [67] In 2023, Germany's manufacturing output reached $844.93 billion, marking a 12.25% increase from 2022. The sector employed ...
The city of Sheffield in England has been famous for the production of cutlery since the 17th century and a train – the Master Cutler – running from Sheffield to London was named after the industry. [2] Bringing affordable cutlery to the masses, stainless steel was developed in Sheffield in the early 20th century. [3]
The textile industry was the first to use modern production methods, [2]: 40 and textiles became the dominant industry in terms of employment, value of output, and capital invested. Many of the technological and architectural innovations were of British origin.
Mary Paley Marshall (1850–1944), the first women lecturer at a British economics faculty, wrote The Economics of Industry with her husband Alfred Marshall. Joan Robinson (1903–1983) was an important post-Keynesian economist.
The term "sweatshop" is associated with manufacturing, and the garment trade in particular; however, in Japan black companies are more often associated with office work than the clothing industry. Etymology