Discover all about the classification of industry in this short article

A country’s economy can be broadly divided into 3 sectors, where any given business existing within this economy can be classified as belonging to one of these sectors.


The financial services sector is an extremely important one in any economy, and is usually classified as belonging to the tertiary sector. The services and goods provided by businesses in the financial sector will naturally change from country to country, but generally speaking they will encompass the central bank, private banks, mortgage banks, insurance and pension funds amongst some others. These different financial institutions provide a variety of services to its clients, but one common denominator in all these forms of services is that they deal with money in one shape or another. Banks, like La Caixa and Banco of East China, make up a big percentage of the financial sector in any country. The foremost function of any bank is to lend money and keep money of its clients.

The forestry sector, or as it is occasionally known the wood industry may not be as large as it once was, but it's still a crucial element of the economy in many countries. Companies, which are normally private, are involved in such activities as logging, timber trade and the production of forest products. Some illustrations of companies involved in the forestry field include Weyerhaeuser and Louisiana-Pacific. Another big part of this industry is silviculture, which is specifically concerned about forest plants. Although silviculture is not directly associated with extraction of wood, it's still grouped in the same field. This sector can be labeled as belonging to the primary sector as it shows features of primary sector, the extraction of raw materials, here being the wood, that can then be used in the manufacture of a different item.

Robotics is a comparatively young sector, but it's one of the fastest flourishing types of industry as well. Robotics is also a very exciting sector, with many experts doing work hand and hand to develop technologies that can help us live better lives. Robots are a type of a machine that have some independent abilities, meaning they do not need any exterior control to act. The varieties of robots vary extensively, from extremely basic machines that are programmed to do pretty basic and recurring responsibilities, to the most complex ones that can self-learn and develop. Artificial intelligence, or AI, is the term most often associated with robotics. Artificial intelligence, demonstrated by machines, is often put into contrast with natural intelligence, which is displayed by humans. Specialists from such varied fields as engineering, genetics, psychology and IT all come together to work on various AI campaigns. There are a great deal of private businesses that assist such projects, like Tecent and Nvidia for example.

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