Friday, December 28, 2007


An industry is generally any grouping of businesses that share a common method of generating profits, such as the music industry, the automobile industry, or the cattle industry. It is also used specifically to refer to an area of economic production focused on manufacturing which involves large amounts of capital investment before any profit can be realized, also called "heavy industry.As-of 2004, Financial services is the largest industry or category of industries in the world in terms of earnings.

Industry in the second sense became a key sector of production in European and North American countries during the Industrial Revolution, which upset previous mercantile and feudal economies through many successive rapid advances in technology, such as the development of steam engines, power looms, and advances in large scale steel and coal production. Industrial countries then assumed a capitalist economic policy. Railroads and steam-powered ships began speedily integrating previously impossibly-distant world markets, enabling private companies to develop to then-unheard of size and wealth. Manufacturing is a wealth-producing sector of an economy. Other sectors such as the service sector tend to be wealth consuming sectors. Following the Industrial Revolution, perhaps a third of the world's economic output is derived from manufacturing industries—more than agriculture's share.

Monday, December 17, 2007

Financial market

In economics, a financial market is a mechanism that allows people to simply buy and sell (trade) financial securities (such as stocks and bonds), commodities (such as valuable metals or agricultural goods), and other fungible items of value at low transaction costs and at prices that imitate the proficient market suggestion.

Financial markets have evolved significantly over several hundred years and are undergoing constant modernization to improve liquidity.

Both general markets (where many commodities are traded) and specialized markets (where only one commodity is traded) survive. Markets work by placing many interested sellers in one "place", thus making them easier to locate for potential buyers. An economy which relies primarily on connections between buyers and sellers to allocate resources is known as a market economy in contrast either to a command economy or to a non-market economy that is based, such as a gift economy.

Sunday, December 02, 2007

Automobiles in Society

This paper is a revise of the impact of the growing of automobiles on the global environment, people’s lives and health, and the formation of Western culture. In addition to survey the impact of automobiles, technologies that have been developed to cope with the problems will be examine, as well as potential long-term solution to the community and ecological troubles caused by automobiles.
While the ecological collision of automobiles on society may be supposed in more material terms, the size of its social impact is more theoretical in its definition. Mark Delucchi suggests that the total social cost of automobile use is the welfare dissimilarity between the current motor vehicle system and a system which provides exactly the same services but without time, manpower, materials, or energy - in short without cost. This explanation of the social cost of automobiles alludes to several general categories of impact, such as personal non-monetary costs, bundled private sector costs, government costs, and various externalities.