which is meant by the term industry
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Industry refers to an economic activity that is concerned with production of goods , extraction of mineral or the provision of service...
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Industry
Explanation:
The industry refers to an economic activity that is primarily concerned with the production of goods such as the iron and steel industry, the extraction of minerals such as the coal mining industry, and the provision of services such as the tourism industry.
The industry is mainly divided into three sectors as primary, secondary, and tertiary sectors.
- Primary Sector- This primary sector mainly carries out the extraction of raw materials such as mining and agricultural industries.
- Secondary Sector- Secondary sector includes refining, manufacturing, and manufacturing of products.
- Tertiary Sector- Tertiary sector is mainly concerned with the services and distribution of manufactured goods.
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