Define: Basic Materials Sector

UK Accounting Glossary

Definition: Basic Materials Sector



Advertisement



Full Definition of Basic Materials Sector


The Basic Materials Sector consists of companies involved with the discovery, development and processing of raw materials.

Industry Components of the Basic Materials Sector

The following industries are grouped under the Basic Materials sector.

  • Chemical Manufacturing
  • Chemicals – Plastics & Rubber
  • Containers & Packaging
  • Fabricated Plastic & Rubber
  • Forestry & Wood Products
  • Gold & Silver
  • Iron & Steel
  • Metal Mining
  • Misc. Fabricated Products
  • Non-Metallic Mining
  • Paper & Paper Products

NOTE: Information supplied by Portfolio123. Other websites/stock data providers may use different industry-sector groupings.

Basic Materials and the Business Cycle

The basic materials sector is sensitive to changes in the business cycle. Because the sector supplies materials for construction, it depends on a strong economy. This sector is also sensitive to supply and demand fluctuations because the price of raw materials, such as gold or other metals, is largely demand-driven.


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/basic-materials-sector/
Modern Language Association (MLA):
Basic Materials Sector. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. March 31, 2020 https://payrollheaven.com/define/basic-materials-sector/.
Chicago Manual of Style (CMS):
Basic Materials Sector. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/basic-materials-sector/ (accessed: March 31, 2020).
American Psychological Association (APA):
Basic Materials Sector. PayrollHeaven.com. Retrieved March 31, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/basic-materials-sector/

Definition Sources


Definitions for Basic Materials Sector are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd March 2020.