General commercial theory lists three main types of industries. Read this post to learn more about the different kinds of industries found in any given economy.
Amidst the different types of industries, the secondary sector includes any company that transforms raw materials that are offered by the primary industry into a product – that can be a ready for use product, or one that is itself utilized to create another product. Any firm found in the energy sector would also be classified as belonging to the secondary industry. Customarily, this sector entails any organisations that uses fossil fuel, electric power or nuclear power to develop their finished product. More lately, many energy companies have started investing more into producing energy from renewable sources like the wind and sun, which is only natural given the growing concern over our ecological state. Examples of such companies that are involved in the renewable energy sector include Good Energy and Ecotricity.
Any firm that is linked to the extraction of raw materials would be classified as being part of the primary industry. Some might not consider it that way, but the agricultural sector is one of the types of primary industry since it extracts raw material, that raw material being food. Several examples of companies engaged in the agricultural industry include Bayer and BASF. Farming has consistently been a tremendous part of any human society, as our survival depended on it before anything else. Today, this sector is still amongst the most important ones in any economy, since it ensures food security in every country and region. Farming is of course the largest aspect of any agricultural sector. These can be publicly owned and operated by the government, or they can be private businesses.
In the classification of industry, the finance sector is an example of the tertiary industry. Tertiary industry entails any company that offers some kind of service instead of a tangible good, therefore making the finance industry the perfect example of the tertiary industry. Although we do not commonly think much about the finance sector, it is one that we commonly come into contact with without even realizing. Simply put, finance is the management of money. Each time we purchase something at a shop, every time we get our wage, and every time we draw money from an cash machine – we utilise the services of the finance industry. All of the above-mentioned illustrations are facilities offered by a certain form of industry within the finance industry – the banking sector. It is said that ancient temples were the original establishments to offer services like the ones offered nowadays by contemporary banks. Even now, banks like La Caixa and Banco of East Asia serve an essential role in a country's economy, along with the everyday life of basically any person.