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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. "

Southern Europe is the southern region of Europe. It is also known as Mediterranean Europe, as its geography is essentially marked by the Mediterranean Sea. Southern Europe is focused on the three peninsulas located in the extreme south of the European continent. These are the Iberian Peninsula, the Italian Peninsula, and the Balkan Peninsula. These three peninsulas are separated from the rest of Europe by towering mountain ranges, respectively by the Pyrenees, the Alps and the Balkan Mountains. The location of these peninsulas in the heart of the Mediterranean Sea, as well as their mountainous reliefs, provide them with very different types of climates (mainly subtropical Mediterranean) from the rest of the continent. Different methods can be used to define Southern Europe, including its political, economic, historical, and cultural attributes. Southern Europe can also be defined by its natural features — its geography, climate, and flora. Politically, nine of the Southern European countries form the EU Med Group. Southern Europe also loosely corresponds to the European part of the Mediterranean Basin. Countries in Southern Europe - Albania, Andorra, Bosnia And Herzegovina, Croatia, Gibraltar, Greece, Holy See (The Vatican),Italy, Malta, Montenegro, Portugal, San Marino, Serbia, Slovenia, Spain, The former Yugoslav Republic of Macedonia.