Industry refers to the economic activity involved in the production of goods or services within an economy. It encompasses various sectors like manufacturing, mining, and construction.
Related terms
Factory System: The factory system is a method of production where goods are manufactured on a large scale using specialized machinery within factories.
Labor Union: A labor union is an organization formed by workers to protect their rights and negotiate better working conditions.
Capitalism: Capitalism is an economic system based on private ownership of resources where individuals or businesses aim for profits through production and trade.