What is an industry ?

An industry is a sector of the economy that involves the production of goods or services. Industries can be classified based on the type of goods or services they produce, such as the automotive industry, technology industry, healthcare industry, and so on. Industries can also be classified based on the level of processing involved in the production process, such as the primary industry (extractive industries like mining and agriculture), secondary industry (manufacturing industries), and tertiary industry (service industries). Industries play a crucial role in the economy by creating jobs, generating revenue, and driving economic growth.