Business,

Industries
and
World GDP

Business

A business is a
company
enterprise
firm

It is a legally recognized organization

designed to
provide goods
and/or services to consumers

Business
Is occupation: the principal activity in your
life that you do to earn money
Is a commercial or industrial enterprise and
the people who constitute it

Business:: Commercial
Enterprise
the activity of providing goods and services involving

financial and commercial and industrial aspects ;

Financial -> banking, investing, insurance

Commercial -> trading, importing/exporting,

whole-selling, retailing, servicing,
counseling, etc.
Industrial -> producing producer goods
producing consumer goods
repairing and maintenance

Industrial is derived from Industry

(from Latin industries, "diligent, industrious"),
It is the segment of economy concerned with
production of goods.
It is business engaged in production of goods
and delivery of services
Industrious
Hard-working

and persistent.
Introduction IE

Why to use term Industry

Primitive businesses were

Mercantile (trade)
Agriculture ( crops and pets )
these professions (businesses) did not
require so much hard work and
persistence

Why to use term Industry

Production of goods started with artisan

and craftsmanship

This business required lot of hard work and

consistent engagement

So, the artisan work (business) of making

goods was called Industry, and, artisan was
called industrious

Industrial Revolution
Industry began in its present form during the 1800s,
aided by technological advances,
Industry became a key sector of economy in European
and North American countries during the
Industrial Revolution,
Industry upset previous mercantile and feudal
economies through rapid advances in technology;
steel and coal production
Railroads
steam-powered ships

Industrialization
Process of adopting
Industry business
at
national level

Industrial Sectors

primary

sector

is

agriculture produce

mining

raw material extraction.

Introduction IE

Industrial Sectors

secondary

sector is

manufacturing
which is what is colloquially
meant by the word "industry".

Industrial Sectors

tertiary

sector

is

Service operations

Introduction IE

Industrial Sectors

quaternary

sector

consists of intellectual services.

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Manufacturing Industry

Manufacturing is a wealth producing

sector in an economy.

Following the Industrial Revolution,

perhaps a third of the world's
economic output is derived from
manufacturing industriesmore than
agriculture's share.

Introduction IE

Industrial sector significance

among community of nations?
A

region's gross domestic

product, or GDP, is one of the ways
for measuring the size of its
economy

The

GDP of a country is defined as

the market value of all final goods
and services produced within a
country in a given period of time.
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GDP Distribution around the GLOBE

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GDP of
World
Key
Countries

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GDP of
Pakistan
& its
Neighbors

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GDP SECTORS

Agriculture includes forestry and fishing

Industry includes the mining, manufacturing, construction, electricity, water,

and gas sectors

SERVICE SECTOR
Services include value added in wholesale and retail
trade (including hotels and restaurants); transport;
and government, financial, professional, and
personal services such as education, health care, and
real estate services. Value added from services is
calculated as total GDP less the portion from
agriculture and industry, so any discrepancies that may
occur in the GDP distribution by sector calculation will
appear here.

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SECTOR WISE GDP (2015) CIA FACT BOOK

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Introduction IE

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