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What is the primary focus of an industry?
What is the primary focus of an industry?
Which of the following best defines the term 'industry'?
Which of the following best defines the term 'industry'?
In what context can an industry be viewed?
In what context can an industry be viewed?
What distinguishes one industry from another?
What distinguishes one industry from another?
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Which aspect does NOT apply to the definition of an industry?
Which aspect does NOT apply to the definition of an industry?
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Which of the following best describes primary industry?
Which of the following best describes primary industry?
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Which example is NOT considered a primary industry?
Which example is NOT considered a primary industry?
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Which statement about the employment distribution in Ethiopia is accurate?
Which statement about the employment distribution in Ethiopia is accurate?
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What role does forestry play in the primary industry?
What role does forestry play in the primary industry?
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Which is NOT a product of primary industry?
Which is NOT a product of primary industry?
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What essential need does primary industry fulfill?
What essential need does primary industry fulfill?
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How does mining contribute to secondary industry?
How does mining contribute to secondary industry?
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Which of these is a characteristic of primary industry?
Which of these is a characteristic of primary industry?
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What is included in the planning of industrial operations?
What is included in the planning of industrial operations?
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Which of the following best describes the concept of 'subsystems' in an organization?
Which of the following best describes the concept of 'subsystems' in an organization?
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What type of factors are included in the micro environment of a business?
What type of factors are included in the micro environment of a business?
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What is the primary focus of a transformation process?
What is the primary focus of a transformation process?
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Which of the following elements is NOT part of the external environment in industrial operations?
Which of the following elements is NOT part of the external environment in industrial operations?
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What do outputs refer to in the context of industrial operations?
What do outputs refer to in the context of industrial operations?
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Which factor is part of the PESTLE macro environment analysis?
Which factor is part of the PESTLE macro environment analysis?
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What role does feedback play in industrial operations?
What role does feedback play in industrial operations?
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What describes the scale and investment required for heavy industries?
What describes the scale and investment required for heavy industries?
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Which of the following is an example of a light industry?
Which of the following is an example of a light industry?
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What is the key difference between tertiary and quaternary industries?
What is the key difference between tertiary and quaternary industries?
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Which of the following is NOT a typical characteristic of heavy industries?
Which of the following is NOT a typical characteristic of heavy industries?
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Which product is associated with the light industry sector?
Which product is associated with the light industry sector?
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What type of products do quaternary industries primarily deal with?
What type of products do quaternary industries primarily deal with?
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Which of the following statements about light industry is incorrect?
Which of the following statements about light industry is incorrect?
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What is a primary focus of tertiary industries?
What is a primary focus of tertiary industries?
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What is a significant side effect of secondary industries during production?
What is a significant side effect of secondary industries during production?
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Which of the following best describes the role of the secondary industry?
Which of the following best describes the role of the secondary industry?
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Which primary product is specifically mentioned as being used in steel production?
Which primary product is specifically mentioned as being used in steel production?
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In the context of the fishing industry, what distinguishes commercial fishing from recreational fishing?
In the context of the fishing industry, what distinguishes commercial fishing from recreational fishing?
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What type of industries are involved in the process of turning wheat into bread?
What type of industries are involved in the process of turning wheat into bread?
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Which of the following sectors is NOT a part of the fishing industry?
Which of the following sectors is NOT a part of the fishing industry?
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What is one of the main challenges related to mining operations after they are closed?
What is one of the main challenges related to mining operations after they are closed?
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Which of the following is a key characteristic of the tertiary industry?
Which of the following is a key characteristic of the tertiary industry?
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What is the first step in the process of designing production/operations systems?
What is the first step in the process of designing production/operations systems?
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In capacity planning, what is the significance of predicting future demand?
In capacity planning, what is the significance of predicting future demand?
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Which of the following is NOT one of the four technological decisions in process selection?
Which of the following is NOT one of the four technological decisions in process selection?
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What does facility location planning NOT typically involve?
What does facility location planning NOT typically involve?
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What is an important factor to consider during the design phase of product/service?
What is an important factor to consider during the design phase of product/service?
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What does process flow choice determine in production?
What does process flow choice determine in production?
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Which component is NOT part of job design?
Which component is NOT part of job design?
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What is a consequence of successful selection during the production/operations design process?
What is a consequence of successful selection during the production/operations design process?
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Study Notes
Industry Definition
- An industry encompasses a collective group of companies involved in manufacturing or technically productive activities, commonly referred to as "enterprises."
- The term "industry" can be applied to a specific field, country, region, or the broader economy as a whole.
- Industries can also be understood as individual companies within a particular field.
Industry Classification
- Industries are classified based on the relatedness of companies within the group.
What is Industry?
- A collection of companies that share similar primary business activities.
- Can be classified by field, country, region, or economic context.
Four Types of Industry
Primary Industry
- Harvests natural resources (renewable and non-renewable) from Earth.
- Provides raw materials for secondary industries.
- Examples: Mining, agriculture, forestry, fishing.
- Typically employs a large percentage of the workforce, particularly in developing nations.
Secondary Industry
- Processes raw materials from primary industries into finished goods.
- Involves manufacturing, assembly, and production.
- Examples: Steel production, automobile manufacturing, telecommunications.
- Can significantly impact world economies.
- Generates waste products and pollution.
- Acts as a bridge between primary and tertiary industries.
Tertiary Industry
- Provides services to consumers and businesses.
- Includes sectors like retail, healthcare, education, and tourism.
- Often grouped with Quaternary industries because of their shared service focus.
Quaternary Industry
- Focuses on research, development, and knowledge-based services
- Highly specialized, providing services like business consulting, scientific research, and data analysis.
- Contributes to a country's knowledge base and scientific advancement.
What is Industrial Operation?
- All commercial activities involved in development, production, and manufacturing of materials and information.
- Includes activities like planning, organizing, directing, and monitoring operations and personnel.
Industrial Operations System
- A system encompassing all components involved in an organization's operations.
- Consists of subsystems, each performing specific functions towards a common goal.
- Influenced by external environments:
- Microenvironment: Factors directly impacting an organization (e.g., suppliers, customers, competitors).
- Macroenvironment: General factors an organization typically has no control over (e.g., political, economic, social, technological, legal, environmental).
Components of Industrial Operations System
- Inputs: Resources used in completing a task (e.g., time, money, effort, raw materials, equipment).
- Transformation process: Activities that transform inputs into outputs.
- Outputs: Finished products or services resulting from the transformation process.
- Feedback: Information used to make decisions about necessary changes in the system.
Designing Production/Operations Systems
- Determining "what, how many, how, where, and who" for production.
- Steps:
- Research: Generating new product/service ideas.
- Selection: Choosing feasible, marketable, and strategically aligned ideas.
- Design: Finalizing product/service specifications, considering reliability, quality, and cost.
Capacity Planning
- Determining how many products or services will be produced.
- Steps:
- Predicting future demand.
- Translating predictions into actual production capacity.
- Developing alternative capacity plans.
- Analyzing economic effects of alternative plans.
- Evaluating risks and strategic impact.
- Implementing a selected plan.
Process Selection
- Determining how products or services will be manufactured.
- Four Technological Decisions:
- Major Technological Choice: Investigating available technologies and making a selection.
- Minor Technological Choice: Choosing from alternative technological processes.
- Specific Component Choice: Determining the type of equipment to be used (specific or general purpose).
- Process Flow Choice: Planning material and product movement through the system.
- Examples of process flow choices: casting, machining, metal working, assembly, finishing.
Facility Location Planning
- Considerations:
- Fixed costs: land, equipment.
- Variable operations costs: wages, taxes, energy consumption.
- Layout Planning: Arrangement of physical facilities.
Job Design
- Structuring individual jobs, specifying tasks and methods of task completion.
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Description
This quiz covers the definition of industry as a group of companies engaged in manufacturing and productive activities. It also explores the classification of industries based on the relatedness of companies within specific fields or regions. Test your knowledge and understanding of these critical economic concepts.