Industry

In modern society work is highly organized. We have to produce enough goods to meet the needs of a large population. We call any organized and productive activity an industry. There is. For example, the timber industry, the iron and steel industry, and the motorcars industry. Some industries make direct use of natural resources. The timber and mining industries are examples. Other industries take raw materials and make them into finished products. All these industries are called manufacturing industries. The iron and steel industry processes iron ore mined from the ground. And turns is into steel. Then it manufactures many kinds of other products form the steel.

Shipbuilding and clock making are two quite different kinds of manufacturing industries. Shipbuilding is called a heavy industry. It uses large amounts of materials such as steel plate and with the aid of heavy machines, makes them into massive products. Clock making, on the I other hand. Is called a light industry. It uses only I small amount of materials to make quite small products. The main feature of industry today is the widespread use of machines. By using machinery men can produce good in greater more quickly and more cheaply than then could by using their hands. The introduction of machines on a large scale about two hundred years ago brought about the industrial revolution.

Posted in: MacroEconomic