Explain the classification of industries.
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Iɴᴅᴜsᴛʀʏ ᴄʟᴀssɪғɪᴄᴀᴛɪᴏɴ ᴏʀ ɪɴᴅᴜsᴛʀʏ ᴛᴀxᴏɴᴏᴍʏ ɪs ᴀ ᴛʏᴘᴇ ᴏғ ᴇᴄᴏɴᴏᴍɪᴄ ᴛᴀxᴏɴᴏᴍʏ ᴛʜᴀᴛ ᴏʀɢᴀɴɪᴢᴇs ᴄᴏᴍᴘᴀɴɪᴇs ɪɴᴛᴏ ɪɴᴅᴜsᴛʀɪᴀʟ ɢʀᴏᴜᴘɪɴɢs ʙᴀsᴇᴅ ᴏɴ sɪᴍɪʟᴀʀ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴘʀᴏᴄᴇssᴇs, sɪᴍɪʟᴀʀ ᴘʀᴏᴅᴜᴄᴛs, ᴏʀ sɪᴍɪʟᴀʀ ʙᴇʜᴀᴠɪᴏʀ ɪɴ ғɪɴᴀɴᴄɪᴀʟ ᴍᴀʀᴋᴇᴛs.
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HEY MATE HERE IS YOUR ANSWER
Industry classification or industry taxonomy is a type of economic taxonomy that organizes companies into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.
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