APPLIED ECO REVIEWER

Industry

A group of businesses or organizations involved in the production of similar goods or services.

Agribusiness

The industry encompassing all activities involved in producing, processing, marketing, and distributing agricultural products.

Production

The process of growing crops or raising livestock, often enhanced with modern technology.

Processing

Converting raw agricultural products into usable goods, such as milling wheat into flour.

Marketing

Promoting and selling raw or processed goods to consumers, wholesalers, or retailers.

Distribution

The transportation and delivery of goods from farms to markets or directly to consumers.

Crop Production

Growing and selling fruits, vegetables, or grains.

Livestock Farming

Raising animals for meat, dairy, or eggs.

Agro-Processing

Manufacturing food products like jam, juice, or bread.

Farm Equipment Sales

Supplying tractors, tools, and machinery to farmers.

Agricultural Technology

Developing apps, sensors, or machines to improve farming efficiency.

Importance of Agricultural Business

Ensures food security, drives rural development, contributes to national economies, and supports sustainability.

Manufacturing Industry

The division of the economy focused on fabricating and producing goods from raw materials.

Heavy Industry

Involves large-scale production and the use of heavy machinery.

Light Industry

Involves smaller-scale production of consumer goods.

Construction Industry

Specializes in building infrastructure and structures.

Chemical Industry

Processes raw chemicals into usable materials.

Energy Generation

Transforms natural resources into usable forms of energy.

Retail

The act of selling goods or services directly to consumers.

Retailing

Involves selling or renting consumer goods directly to consumers.

Retailers

Businesses that sell goods directly to consumers.

Department Stores

Large retail establishments with multiple departments specialized in specific product groups.

Specialty Stores

Retail establishments that focus on specific product ranges.

Convenience Stores

Small, food-oriented retail stores with longer operating hours.

Supermarkets

Retail establishments primarily selling food and household products.

Discount Stores

Retail businesses that offer products at lower prices.

Multichannel Stores

Sell products through various channels including catalogs and the internet.

Socioeconomic Study

Examines the impact of social and economic factors on society and business.

Opportunity

The potential to create something new involving changes in various conditions.

Primary Sources

First-hand data gathered directly through observations, experiments, or interviews.

Secondary Sources

Data that have already been compiled and are available.

Customer Experience in Retail

Consumers buy products to take home.

Customer Interaction in Service

Continuous interaction often requiring personalized service.

International Trade

The exchange of goods and services between countries.

Export

Goods and services sold in foreign markets.

Import

Goods and services brought from foreign producers.

Poverty Alleviation

Government programs aimed at reducing poverty and improving living conditions.

Basic Services

Essential services provided by the government for citizens' well-being.

Household Welfare

Impacts on household consumption prices and wage incomes.

Economic Factors

Factors such as income rate, interest rate, and unemployment level affecting businesses.