Industrial Production Increase

Definition

This refers to the growth in the output of goods and services produced by an industry within a specific period. It's often associated with technological advancements, increased labor efficiency, or economic policies.

Analogy

Think of industrial production increase like leveling up in a video game. As you gain more resources (like technology or workforce), your ability to produce and score points (or make products) increases.

Related terms

Manufacturing Sector: This is the portion of an economy that produces finished products from raw materials in factories.

Productivity: This measures how efficient a process is at converting inputs into outputs. In this context, it could refer to how efficiently an industry can convert raw materials into finished goods.

Economic Growth: This is the increase in an economy's capacity to produce goods and services over time. It's often measured using Gross Domestic Product (GDP).