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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. "
North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It can also be described as the northern subcontinent of a single continent, America. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Caribbean Sea, and to the west and south by the Pacific Ocean. Canada, Mexico, and the United States have significant and multifaceted economic systems. The North American economy is well defined and structured in three main economic areas. These areas are the North American Free Trade Agreement (NAFTA), Caribbean Community and Common Market (CARICOM), and the Central American Common Market (CACM). Of these trade blocs, the United States takes part in two. In addition to the larger trade blocs there is the Canada-Costa Rica Free Trade Agreement among numerous other free trade relations, often between the larger, more developed countries and Central American and Caribbean countries. Countries in North America - Greenland, Canada, United States, Mexico.