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Capital Intensive Industry
Capital intensive industry was a mid- to late- 19th century development in industry that required great investments of money for machinery and infrastructure to make a profit. Industrial progress was expensive and business people faced real problems. The start up costs of new enterprises skyrocketed. The early textile mills had required relatively small amounts of capital in comparison to the new ironworks and steelworks. Capital intensive industry replaced labor-intensive production, which relied on the hiring of more workers. The distribution and consumption of goods failed to keep pace with industrial growth. Increased productivity in both agriculture and industry Industry may refer to: Economics * Industry (economics), a generally categorized branch of economic activity * Industry (manufacturing), a specific branch of economic activity, typically in factories with machinery * The wider industrial sector ... led to rapidly declining prices. Industrial Revolution { ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Textile Mill
Textile Manufacturing or Textile Engineering is a major industry. It is largely based on the conversion of fibre into yarn, then yarn into fabric. These are then dyed or printed, fabricated into cloth which is then converted into useful goods such as clothing, household items, upholstery and various industrial products. Different types of fibres are used to produce yarn. Cotton remains the most widely used and common natural fiber making up 90% of all-natural fibers used in the textile industry. People often use cotton clothing and accessories because of comfort, not limited to different weathers. There are many variable processes available at the spinning and fabric-forming stages coupled with the complexities of the finishing and colouration processes to the production of a wide range of products. History Textile manufacturing in the modern era is an evolved form of the art and craft industries. Until the 18th and 19th centuries, the textile industry was a household work. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Capital
Financial capital (also simply known as capital or equity in finance, accounting and economics) is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, ''e.g.'', retail, corporate, investment banking, etc. In other words, financial capital is internal retained earnings generated by the entity or funds provided by lenders (and investors) to businesses in order to purchase real capital equipment or services for producing new goods and/or services. In contrast, real capital (or economic capital) comprises physical goods that assist in the production of other goods and services, e.g. shovels for gravediggers, sewing machines for tailors, or machinery and tooling for factories. IFRS concepts of capital maintenance ''Financial capital'' generally refers to saved-up financial wealth, especially that used in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ironworks
An ironworks or iron works is an industrial plant where iron is smelted and where heavy iron and steel products are made. The term is both singular and plural, i.e. the singular of ''ironworks'' is ''ironworks''. Ironworks succeeded bloomeries when blast furnaces replaced former methods. An integrated ironworks in the 19th century usually included one or more blast furnaces and a number of puddling furnaces or a foundry with or without other kinds of ironworks. After the invention of the Bessemer process, converters became widespread, and the appellation steelworks replaced ironworks. The processes carried at ironworks are usually described as ferrous metallurgy, but the term siderurgy is also occasionally used. This is derived from the Greek words ''sideros'' - iron and ''ergon'' or ''ergos'' - work. This is an unusual term in English, and it is best regarded as an anglicisation of a term used in French, Spanish, and other Romance languages. Historically, it is common ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steelworks
A steel mill or steelworks is an industrial plant for the manufacture of steel. It may be an integrated steel works carrying out all steps of steelmaking from smelting iron ore to rolled product, but may also be a plant where steel semi-finished casting products are made from molten pig iron or from scrap. History Since the invention of the Bessemer process, steel mills have replaced ironworks, based on puddling or fining methods. New ways to produce steel appeared later: from scrap melted in an electric arc furnace and, more recently, from direct reduced iron processes. In the late 19th and early 20th centuries the world's largest steel mill was the Barrow Hematite Steel Company steelworks located in Barrow-in-Furness, United Kingdom. Today, the world's largest steel mill is in Gwangyang, South Korea. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Productivity
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and/or data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity. Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agriculture
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in cities. The history of agriculture began thousands of years ago. After gathering wild grains beginning at least 105,000 years ago, nascent farmers began to plant them around 11,500 years ago. Sheep, goats, pigs and cattle were domesticated over 10,000 years ago. Plants were independently cultivated in at least 11 regions of the world. Industrial agriculture based on large-scale monoculture in the twentieth century came to dominate agricultural output, though about 2 billion people still depended on subsistence agriculture. The major agricultural products can be broadly grouped into foods, fibers, fuels, and raw materials (such as rubber). Food classes include cereals (grains), vegetables, fruits, cooking oils, meat, milk, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industrial Sector
In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction. This sector generally takes the output of the primary sector (i.e. raw materials) and creates finished goods suitable for sale to domestic businesses or consumers and for export (via distribution through the tertiary sector). Many of these industries consume large quantities of energy, require factories and use machinery; they are often classified as light or heavy based on such quantities. This also produces waste materials and waste heat that may cause environmental problems or pollution (see negative externalities). Examples include textile production, car manufacturing, and handicraft. Manufacturing is an important activity in promoting economic growth and development. Nations that export manufactured products tend to generate h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
