What is industry?

Industry refers to a specific sector of the economy that involves the production of goods or the provision of services. It typically involves the use of various resources, such as raw materials, labor, and capital, to transform inputs into outputs that can be sold in the market. Industries can vary widely in terms of their nature, size, and scope, ranging from manufacturing and construction to finance, healthcare, and technology. They play a crucial role in economic development, job creation, and the overall growth of a country or region.