Industry of location (service industries)

Definition

Industry refers to a generally homogeneous group of economic producing units, primarily engaged in a specific set of activities. An activity is a particular method of combining goods and services inputs, labour and capital to produce one or more goods and/or services (products). In most cases, the activities that define an industry are homogeneous with respect to the production processes used.

Location (service industries) refers to a physical place in which business activity is conducted.

Classifications

Relation to previous version

  • Industry of location (service industries) March 16, 1998 to current

    This is the current version.

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