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In macroeconomics, an industry is a branch of an economy that produces a closely-related set of raw materials, goods, or services. When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. However, a single business need not belong just to one industry, such as when a large business diversifies across separate industries. Industries, though associated with specific products, processes, and consumer markets, can evolve over time. One distinct industry (for example, barrel making) may become limited to a tiny niche market and get mostly re-classified into another industry using new techniques. At the same time, entirely new industries may branch off from older ones once a significant market becomes apparent (as the semiconductor industry becomes distinguished from the wider electronics industry). Industry classification is valuable for economic analysis because it leads to largely distinct categories with simple relationships. However, more complex cases, such as otherwise different processes yielding similar products, require an element of standardization and prevent any one schema from fitting all possible uses. "
Europe is a continent, also recognised as part of Eurasia, located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. Comprising the westernmost peninsulas of the continental landmass of Eurasia, it shares the continental landmass of Afro-Eurasia with both Asia and Africa. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south and Asia to the east. Europe is commonly considered to be separated from Asia by the watershed of the Ural Mountains, the Ural River, the Caspian Sea, the Greater Caucasus, the Black Sea and the waterways of the Turkish Straits. Although much of this border is over land, Europe is almost always recognised as its own continent because of its great physical size and the weight of its history and traditions. Europe covers about 10. 18 million km2 (3. 93 million sq mi), or 2% of the Earth's surface (6. 8% of land area), making it the second-smallest continent (using the seven-continent model). Politically, Europe is divided into about fifty sovereign states, of which Russia is the largest and most populous, spanning 39% of the continent and comprising 15% of its population. Europe had a total population of about 746 million (about 10% of the world population) in 2018. Countries in Europe - Russia, Germany, United Kingdom, France, Italy, Spain, Ukraine, Poland, Romania, Netherlands, Belgium, Czech Republic (Czechia), Greece, Portugal, Sweden, Hungary, Belarus, Austria, Serbia, Switzerland, Bulgaria, Denmark, Finland, Slovakia, Norway, Ireland, Croatia, Moldova, Bosnia and Herzegovina, Albania, Lithuania, North Macedonia, Slovenia, Latvia, Estonia, Montenegro, Luxembourg, Malta, Iceland, Andorra, Monaco, Liechtenstein, San Marino, Holy See.