Question

The North American Industry Classification System (NAICS) designates industries with a numerical code in a defined structure. A six-digit coding system is used. The third digit designates ____
(A) an industry subsector.
(B) an industry group.
(C) a specific industry.
(D) an individual country-level national industry.
(E) a sector of the economy.

Answer 1

Answer:

(A) an industry subsector

Explanation:

The North American Industry Classification System (NAICS) is a standard to classify businesses for census purposes.  In a 6 digit coding system each digit represents a category

1. The first two digits designate the economic sector,
2. the third digit designates the subsector,
3. the fourth digit designates the industry group,
4. the fifth digit designates the NAICS industry,
5. the sixth digit designates the national industry.

All these details and more are explained in the US census website: https://www.census.gov/eos/www/naics/