Understanding Micro-Commerce And The Micro Reddening Of The US Economy

Industry

Understanding Micro-Commerce And The Micro Reddening Of The US Economy

In macroeconomics, an industry is a subdivision of an overall economy which produces a similarly related group of goods, materials, or services. For instance, one would refer to the banking industry or the metal industry. In microeconomics, however, the macroeconomic situation is much more narrow, usually focusing on the interactions between people rather than between goods. Thus, one would focus upon the decisions made by individual consumers within their local community. There are many different micro-economic processes at work in a micro-community as well as in the macroeconomy.

The macro-economy as a whole is made up of the sector of the economy which produces and uses the goods or services produced in other economic sectors. The broadest division of the economy is the broad spectrum of goods and services which are generally classified into two broad categories, namely, primary industries and secondary industries. In primary industries, include the manufacture of things such as primary energy (electricity, gas, coal, etc. ), primary food (such as wheat, rice, etc. ), and primary manufacture (such as toys, cars, etc.). These industries provide employment to a wide range of individuals, including the labor force, and they also help make a considerable dent in the size of the economy.

Meanwhile, the secondary businesses are primarily the sector of the economy which manufactures, assembles, and distributes the products of other businesses industries, such as the energy industry, chemical industry, and pharmaceutical industry. These industries also employ a large number of individuals in various types of employment. A good example of a secondary business sector is the retail sector. This sector consists of stores, offices, and warehouses, as well as various manufacturing processes. All these aspects of the economy make up about two-thirds of the US gross domestic product.