What is meant by the term industry?


Industry is one type of economic activity that focuses on the manufacture of commodities, such as the iron and steel industry, the extraction of minerals, such as coal mining, and the provision of services, such as tourism.
The primary, secondary, and tertiary sectors make up the majority of the industry.

Final Answer:

An economic activity that is associated with the production of commodities, the extraction of resources, or the supply of services is referred to as industry.