International Journal of Business and Applied Social Science

ISSN: 2469-6501 (Online)

DOI: 10.33642/ijbass
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VOLUME: 8; ISSUE: 12; DECEMBER 2022

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Articles

Author(s): Suren N. Kulshreshtha, Ph.D., FCAES
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Abstract:
Observations of direct contributions of a sector are easily observable and are frequently used as a measure of the importance of an economic sector. However, it is the contention of this study that such a process seriously underestimates the total contribution made by an economic sector. In this study, the economic impacts of the beef processing sector are estimated as total economic impacts which include the direct contributions made by the beef processing sector plus all the secondary impacts. Impacts were measured in terms of the level of sales, gross domestic product (GDP), labor income, and employment levels. In each of these cases, multiplier activity generated by the beef processing sector was two to five times (and in some cases even more) the direct impacts. It is the conclusion of this study that the total economic impacts of a sector are a better indicator of the importance of an economic sector than direct impacts.
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