Industry - Page 161

Industry refers to the economic activity related to the production of goods and services within an economy. It encompasses a wide range of sectors and can be classified into various categories such as manufacturing, construction, mining, agriculture, and services. Each industry is defined by its processes, inputs, outputs, and markets, as well as the labor and resources it requires. Industries play a crucial role in driving economic growth, providing employment, and contributing to the overall technological and social development of a society. The term can also signify the collective entities and organizations engaged in similar activities within a particular field, for example, the technology industry or the entertainment industry. Overall, industry is a fundamental pillar of economic structure and human productivity.