What Is Industrial Structure?

Abstract

The term ``industrial structure'' can be used in a few ways. This chapter lays out a straightforward description of the term as a classification of the three main economic activities: the agricultural, manufacturing, and services sectors. A pivotal concept is defined: the share of each sector in GDP. As the services sector grows, the other sectors appear to shrink. This shift is, of course, merely in the relative size of each sector, and not necessarily a decline in real output.