Question

Q 12 Define Industry and its features.​

Answer 1

Answer:

the production of goods in factories. Sry I don't know its features

Answer 2

Industry (manufacturing), manufacturing at large-scale, typically in factories with machinery. The wider industrial sector of an economy, including manufacturing and production of other intermediate or final goods. The general characteristics and production methods common to an industrial society.

Industry's Dominant Features are:

• Market size.
• Scope of rivalry.
• Growth rate, state of the life cycle is the industry in.
• Number of rivals and their relative size.
• Prevalence of forward/backwards integration.
• Channels of distribution.
• Pace of process and product technology change.
• Are products highly differentiated or very similar?

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