Existing Industries. Problems and Prospects

Scientific Essay from the year 2008 in the subject Sociology - Economy and Industry, , language: English, abstract: Industrialization has always been recognized as a major tool for economic development of a region. It is the principal component of the secondary sector and its main function is to provide work for the growing population to satisfy the demand for manufactured goods and to raise the standard of living by the per capita income of the region. Industry is responsible for converting raw materials into finished goods, which in turn encourage the development of the tertiary sector, like marketing, transport and servicing etc. The transfer of persons engaged in the primary sector to secondary and tertiary sectors are generally visualized as social changes brought about by industrialization.