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13-552: The VSNKh of the first period was the supreme organ of the management of the economy, mainly of the industry . The VSNKh was launched on December 5, 1917, through a decree of the Council of People's Commissars (Sovnarkom) and All-Russian Central Executive Committee of Soviets of the Russian Socialist Federative Soviet Republic . Its stated purpose was to "plan for the organization of the economic life of

26-731: A finished, usable product or are involved in construction . This sector generally takes the output of the primary sector (i.e. raw materials like metals, wood) and creates finished goods suitable for sale to domestic businesses or consumers and for export (via distribution through the tertiary sector ). Many of these industries consume large quantities of energy, require factories and use machinery; they are often classified as light or heavy based on such quantities. This also produces waste materials and waste heat that may cause environmental problems or pollution (see negative externalities ). Examples include textile production , car manufacturing , and handicraft . Manufacturing

39-503: Is an important activity in promoting economic growth and development . Nations that export manufactured products tend to generate higher marginal GDP growth, which supports higher incomes and therefore marginal tax revenue needed to fund such government expenditures as health care and infrastructure . Among developed countries , it is an important source of well-paying jobs for the middle class (e.g., engineering) to facilitate greater social mobility for successive generations on

52-400: Is called a "finished good". This is the last stage for the processing of goods. The goods are ready to be consumed or distributed. There is no processing required in term of the goods after this stage by the seller. Though there may be instance that seller finished goods become buyer's raw materials Finished goods is a relative term. In a Supply chain management flow, the finished goods of

65-483: The Belarusian SSR ). The all-union council could be referred to as ВСНХ СССР (VSNKh SSSR). The republican VSNKhs had control over small scale, minor industries which used local materials and supplied local markets and which were referred to as "enterprises of republican subordination". Large scale industrial enterprises ("enterprises of union subordination") were controlled by one of the industrial sector departments of

78-411: The manufacturing process but have not yet been sold or distributed to the end user. Manufacturing has three classes of inventory : A good purchased as a "raw material" goes into the manufacture of a product. A good only partially completed during the manufacturing process is called "work in process". When the good is completed as to manufacturing but not yet sold or distributed to the end-user, it

91-467: The all-union VSNKh. Within the VSNKh, departments were split into two types. Departments within the functional sector dealt with decisions relating to finance , planning , economic policy, and research and development . Departments of this type were created by decree in 1926 and consisted of "chief departments", known as glavki ( glavnye upravlenija ). Heads of all the departments in this sector formed

104-463: The centralization and departmentalism of ministries. The USSR was initially divided into 105 economic regions, with sovharknozes being operational and planning management. Simultaneously, a large number of ministries were shut down. Industrial sector In macroeconomics , the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing . It encompasses industries that produce

117-524: The council of the all-union VSNKh together with representatives from the union republics. Vesenkha was reestablished by Nikita Khrushchev when he introduced decentralization of the management of industry by means of sovnarkhozes . It was subordinated to the Council of Ministers of the USSR and managed industry and construction. Sovnarkhozes were introduced by Nikita Khrushchev in July 1957 in an attempt to combat

130-584: The council. After the creation of the Soviet Union in 1923 it was transformed into the joint all-Union and republican People's Commissariat . In 1932, it was reorganized into three People's Commissariats : of heavy industry , light industry and forestry . In each of the union republics of the Soviet Union, subordinate organisations existed. These were referred to as ВСНХ followed by their union republic acronym. (for example ВСНХ БССР (VSNKh BSSR) for

143-466: The country and the financial resources of the government". It was subordinated to the Sovnarkom . The recently established All-Russian Council for Workers' Control was dissolved into the new organisation. It had rights of confiscation and expropriation . The first chairman was Valerian Osinsky and with Bukharin , Georgy Oppokov (Lomov) , Milyutin , Sokolnikov , and Vasili Schmidt also appointed to

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156-483: The economy. Currently, an estimated 20% of the labor force in the United States is involved in the secondary industry. The secondary sector depends on the primary sector for the raw materials necessary for production. Countries that primarily produce agricultural and other raw materials (i.e., primary sector ) tend to grow slowly and remain either under-developed or developing economies . The value added through

169-569: The transformation of raw materials into finished goods reliably generates greater profitability , which underlies the faster growth of developed economies . The twenty largest countries by industrial output (in PPP terms) at peak level as of 2020, according to the IMF and CIA World Factbook . 22nd This industry -related article is a stub . You can help Misplaced Pages by expanding it . Finished goods Finished goods are goods that have completed

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