In economics, different kinds of manufacturing and services are broken down into groups called industries.[1] The word comes from a Latin word meaning "working diligently at a task". There are many different industries, like mining, farming and logging. The industrial revolution made new industries.
An industy produces goods or services which are of a common set of qualities and which are indistinguishable (called homogeneous, in economics). It uses standardised processes for production, mass production and divison of labor.
History
Slavery
Template:Main Slavery, which is forcing people to make goods[2]Template:Failed verification and services, has happened since ancient times throughout the world as a way to have low-cost production. It usually produces goods for which profit depends on economies of scale.[3] International law has declared slavery illegal.[4]
Industrial Revolution
Template:Main The industrial revolution (from the mid-18th century to the mid-19th century) saw the development and popularization of using machines to make goods instead of using hands.[5] The industrial revolution played a role in the abolition of slavery in Europe and in North America.[6]
References
- ↑ industry - Definitions from Dictionary.com
- ↑ Slavery in the 21st Century. newint.org. Retrieved 2018-07-15.
- ↑ Compare: Slavery and other property rights({Template:Date).
- ↑ United Nations. "Universal Declaration on Human Rights." General Assembly of the United Nations. 1948.
- ↑ Compare: Industrial Revolution - Facts & Summary - HISTORY.com. HISTORY.com. Retrieved 2018-07-04.
- ↑ Compare:Slavery, the British Atlantic Economy and the Industrial Revolution. Working Paper({Template:Date).