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DEFINITION of 'Industrialization'. The process in which a society or country (or world) transforms itself from a primarily agricultural society into one based on the manufacturing of goods and services.
What is an industrial sector? A: The term industrial sector is an economic designation from the three-sector hypothesis for the part of the economy devoted to producing goods, as opposed to sectors devoted to providing services and raw material products. The industrial sector is also referred to as the secondary sector or the manufacturing sector. Continue Reading.