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TeachMeFinance.com - explain North American Industry Classification System (NAICS) North American Industry Classification System (NAICS) The term 'North American Industry Classification System (NAICS) ' as it applies to the area of agriculture can be defined as ' Standard industrial classification codes have been replaced in the 1997 Census of Agriculture by the new North American Industry Classification System (NAICS). NAICS is a unique, all-new system for classifying business establishments. It is the first economic classification system to be constructed based on a single economic concept. Economic units that use like processes to produce goods or services are grouped together. In the case of the Census of Agriculture, the shift from SIC codes to NAICS codes involves few changes. Farms are grouped into crop or livestock production and then into the subcategory which accounts for 50% or more of the total value of sales of agricultural products (i.e., cotton, tobacco, dairy)'. Previous 5 Terms: North American Electric Reliability Corporation (NERC) North American Electric Reliability Council (NERC) North American Free Trade Agreement (NAFTA) North American Free Trade Agreement Implementation Act North American Industry Classification System (NAICS) Next 5 Terms: North American Waterfowl Management Plan North American Wetlands Conservation Act North Atlantic Oscillation North Atlantic Oscillation (NAO) North Carolina Healthcare Information And Communications Alliance About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.