Q.What is industry?

Before goods can be bought or sold, they must first be produced — that is the role industry plays in the economy. …

Industry refers to the branch of economic activity that is concerned with the production side of the economy — raising, producing, processing or fabricating goods, or extracting resources directly from nature such as minerals, timber or fish. It represents the stage at which raw materials are converted into usable products or natural resources are brought into a form that can eventually be sold. The Andhra Pradesh Intermediate commerce syllabus classifies industry into three types — primary, secondary and tertiary — based on the nature of the activity, ranging from extraction of raw material, th …

Students sometimes restrict "industry" to mean only factories or manufacturing units, forgetting that primary industries (agriculture, mining, fishing) and tertiary/ser …