What’s industry and firm as related to industrial management

Define the following terms: (i) an industry (ii) a firm

(i)An Industry: The industry is the production of goods or related services within an economy. An industry is the classification of groups of companies that are related based on their primary business activities.
(ii)A Firm: A firm is also known as business. The firm is referred to as the business organization organized by an individual or group of individuals to make profit. It is a business organization such as Corporation, Limited Liability Company or Partnership that sells goods or services to make a profit.


Oluwamuyide Peter

On the 4th of November I officially became a member of the exclusive 1st student with distinction after five years of no such record, in the history of The Polytechnic Ibadan, Faculty of Engineering to graduate with distinction as a DPP students since its establishment in 2011. My unrelenting power to solve problems, have made me to create a platform where student can get valid information anywhere, anyplace at anytime Evolving education world wide 🌎

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