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The Fourth Industrial Revolution: what it means?

صورة
We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society. The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production. Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres. There are three r...
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What are the 3 main types of industry?

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  Primary industry This sector of a nation’s economy includes agriculture, forestry, fishing, mining, quarrying, and the extraction of minerals. It may be divided into two categories: genetic industry, including the production of raw materials that may be increased by human intervention in the production process; and extractive industry, including the production of exhaustible raw materials that cannot be augmented through cultivation. 19%  OF GLOBAL WATER WITHDRAWALS ARE DEDICATED TO INDUSTRIAL USES. The genetic industries include agriculture, forestry, and livestock management and fishing—all of which are subject to scientific and technological improvement of renewable resources. The extractive industries include the mining of mineral ores, the quarrying of stone, and the extraction of mineral fuels. Primary industry tends to dominate the economies of undeveloped and developing nations, but as secondary and tertiary industries are developed, its share of the economic output ...
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Importance of Industries

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  Importance of Industries i) Rapid growth of income The first and th foremost argument in favor of industrialization is that it can provide a base for rapid growth of income.It is because of the fact that that productivity rates are higher in industry than in agriculture. Industries mainly depend on man;'s effort while agriculture is restricted by th limiting factor of the nature. It is also seen that the Industrialized nations have a high per capita income. ii) Employment With the increasing population agriculture is unable to provide for employment. Hence it is very important to set up industries to absorb this surplus labor.Hence industries can solve the problem of unemployment. iii) Exploitation of resources Industries are capable of utilizing all the resources present in the economy. They can even make use of scraps and waste materials. Agriculture cannot make use of all the resources. iv) Foreign exchange India cannot earn adequate foreign exchange from the exports of its pr...
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How does industry help the economy?

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  Industrial Development and Economic Growth Industrial developments have historically led to periods of economic growth. New technologies make jobs easier, faster and better, which can lead to an increase in a business’ output and an increase in profits. Industrialization in the workforce has many benefits that are more far-reaching as well. Below, we explore many of the benefits of industrial development and its positive impacts on the economy. Industrialization Improves Profits Adding industrial development to a business can increase the scale of production, reduce the cost of production, make improvements on the products being developed and widen the market for products and services being sold. These improvements have a great impact on the profit margin of goods and services that a business sells. It is also easier to expand or cut down on the product development or output as the market dictates. Industrial Development = Modernization Many industries have improved greatly over ...
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