Compared with autarky, international trade leads to import domestic production in exporting industries and competing for domestic production in import-competing industries.
An industry is a group of companies related to each other by their main activities. There are dozens of industry classifications in the modern economy. Industry classifications are usually grouped into larger categories called sectors. Industries are generally classified according to the goods and services they produce. For example, the pizza industry consists of all manufacturers who produce and sell pizza in the market.
It is important to note that pizza makers must sell the products they produce in the market in order to be part of the pizza industry. In the economy, industries are generally divided into primary, secondary and tertiary. Secondary industries are further classified into heavy and light industries. The IT industry is a broad and broad term that encompasses many information technology-oriented organizations. If you think about it, no organization (business, government or non-profit) can survive without IT.
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