The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model. The others are the primary sector and the secondary sector (manufacturing).
In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction.
Confectionery is the art of making confections, which are food items that are rich in sugar and carbohydrates. Exact definitions are difficult. In general, however, confectionery is divided into two broad and somewhat overlapping categories: bakers' confections and sugar confections. The occupation of confectioner encompasses the categories of cooking performed by both the French patissier and the confiseur.
The North American Industry Classification System or NAICS is a classification of business establishments by type of economic activity. It is used by governments and business in Canada, Mexico, and the United States of America. It has largely replaced the older Standard Industrial Classification (SIC) system, except in some government agencies, such as the U.S. Securities and Exchange Commission (SEC).
The Standard Industrial Classification (SIC) was a system for classifying industries by a four-digit code as a method of standardizing industry classification for statistical purposes across agencies. Established in the United States in 1937, it is used by government agencies to classify industry areas. Similar SIC systems are also used by agencies in other countries, e.g., by the United Kingdom's Companies House.
Public finance is the study of the role of the government in the economy. It is the branch of economics that assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. The purview of public finance is considered to be threefold, consisting of governmental effects on:
- The efficient allocation of available resources;
- The distribution of income among citizens; and
- The stability of the economy.
Value added is a term in financial economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed to the supply-demand curve for specific units of sale. It represents a market equilibrium view of production economics and financial analysis. Value added is distinguished from the accounting term added value which measures only the financial profits earned upon transformational processes for specific items of sale that are available on the market.
Fast-moving consumer goods (FMCG), also known as consumer packaged goods (CPG), are products that are sold quickly and at a relatively low cost. Examples include non-durable household goods such as packaged foods, beverages, toiletries, candies, cosmetics, over-the-counter drugs, dry goods, and other consumables.
The Global Industry Classification Standard (GICS) is an industry taxonomy developed in 1999 by MSCI and Standard & Poor's (S&P) for use by the global financial community. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries into which S&P has categorized all major public companies. The system is similar to ICB, a classification structure maintained by FTSE Group.
The hospitality industry is a broad category of fields within the service industry that includes lodging, food and beverage services, event planning, theme parks, travel agency, tourism, hotels, restaurants and bars.
The United Kingdom Standard Industrial Classification of Economic Activities (UKSIC) is a Standard Industrial Classification that is intended to help classify businesses according to the type of their economic activity. One or more SIC codes can be attributed to a business. SIC codes identify what a business does.
The International Standard Industrial Classification of All Economic Activities (ISIC) is a United Nations industry classification system. Wide use has been made of ISIC in classifying data according to kind of economic activity in the fields of employment and health data.
The Statistical Classification of Economic Activities in the European Community, commonly referred to as NACE, is the industry standard classification system used in the European Union. The current version is revision 2 and was established by Regulation (EC) No 1893/2006. It is the European implementation of the UN classification ISIC, revision 4.
The Refinitiv Business Classification (TRBC) is an industry classification of global companies. It was developed by the Reuters Group under the name Reuters Business Sector Scheme (RBSS), was rebranded to Thomson Reuters Business Classification (TRBC) when the Thomson Corporation acquired the Reuters Group in 2008, forming Thomson Reuters, and was rebranded again, to The Refinitiv Business Classification (TRBC), in 2020. Since the creation of Refinitiv in October 2018, TRBC has been owned and operated by Refinitiv and is the basis for Refinitiv Indices.
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.
Environmental protection expenditure accounts (EPEA) are a statistical framework that describes environmental activities in monetary terms and organises these statistics into a full set of accounts, just like that of the national accounts. The EPEA is part of the System of Integrated Environmental and Economic Accounting which, in March 2012, was adopted as a statistical standard by the United Nations Statistical Commission.
An economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy demands the use of a taxonomic/classificatory approach.
Taxonomy is the practice and science of categorization or classification.
A boat livery is a boathouse or dock on a lake or other body of water, where boats are let out for hire (rental), usually on an hourly, daily or weekly basis. Boats may be powered or sail craft or human powered like rowboats, paddleboats (pedalos) or inflatable boats. The primary use of the boats is recreational.
Industry averages are generally using as benchmarks or tools which helps business to make comparisons that helps to determine its position within the industry and evaluate financial performance of the business. It is a useful tool for business managers and investors, helps with decision making process. It represent data figures of various business organizations across different industries of producing distinct products and services. Some individuals and organizations use industry averages as a useful tools, it gives a medium level of all other competitors performance. Compare their own data figure with those averages, it could help individual or organization to make decisions and predictions about possible outcomes. Such as, Investors compare an organization's financial ratios with industry averages to evaluate whether the organization have potential power to growth in the future, and level of risk for the investment. All those factors contribute to decision making and deeper analysis. Data required can be collect through survey or through several professional statistic websites, for individuals are more likely to obtain information using internet. Industry averages could also refer to terms related to industrial sector such as industry averages salaries, unemployment rates, Clickthrough rates and so on, using as benchmarks for comparisons.
