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Define industry. - Business Studies

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Question

Define industry.

Definition

Solution

Industry refers to all those economic activities which are concerned with converting the raw materials and resources into useful goods. The terms is often used to describe a group of firms producing similar type of products.

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Meaning of Industry
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Chapter 1: Business, Trade and Commerce - Long Answer Questions [Page 26]

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NCERT Business Studies [English] Class 11
Chapter 1 Business, Trade and Commerce
Long Answer Questions | Q 4.1 | Page 26
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