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- Dictionaryindustry/ˈɪndəstri/
noun
- 1. economic activity concerned with the processing of raw materials and manufacture of goods in factories: "new investment incentives for British industry" Similar
- 2. hard work: "the kitchen became a hive of industry" Similar Opposite
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Industry refers to economic activities, which are connected with conversion of resources into useful goods. Industry is concerned with the production or processing of goods and materials as well as breeding and raising of animals.
Industry refers to economic activities concerned with the production of goods, extraction of services and provision or services. Hence we can say that Industries are concerned with: Production of good (steel energy) Extraction of minerals (coal mining) Provision for services (tourism) There are also Emerging Industries: ‘Sunrise Industries’.
The industry refers to the production of finished goods from raw materials. It denotes the production activities of the business. The goods produced in the industry are both producers good and consumers good.
Definition of industry: The manufacturing or technically productive enterprises in a particular field, country, region, or economy viewed collectively, or one of these individually. A single industry is often named after its ...
Apr 5, 2024 · At its core, an industry is a group of companies or businesses that operate within a specific economic sector, producing similar products or services that cater to a shared market or consumer base.
Jan 6, 2024 · An industry is a sector of the economy that offers a distinct type of value. This value can include products and services as well as other types of value such as infrastructure, art, culture, experiences, knowledge and quality of life.
noun. industries. A sector of an economy. The advertising industry. American Heritage. The application of this. Webster's New World. Earnest, steady effort; constant diligence in or application to work. Webster's New World. Similar definitions. Any particular branch of productive, esp. manufacturing, enterprise. The paper industry.
Introduction. An industry comprises of a number of companies/factories performing business activities with a focus on a particular audience/customer base, also called as a sector. A sector is generally wide and can comprise of various industries. Companies are categorized into a particular industry based on their primary revenue segments.
The definition of Industry was under Section 2 (j) of the Industrial Dispute Act, 1948 prior to Industrial Relations code, 2020.
Jun 25, 2024 · Definition. An industry is a group or cluster of companies that engage in similar business activities, such as producing similar goods or services. These groups are distinctly separate and name themselves after their primary products. A sector is a general term that describes a large economic segment that comprises many similar industries.
