what is the difference between factory and industry

Hey!

Factory and industry words are used interchangeably, but there is a difference between these. Industry is responsible for production which contributes to the economy, means production of economic goods. And factory basically is a place where the material or product is actually created.

There are mainly 4 types of industries:

Primary - where extraction from earth is done and there is no need of refining such as farming or mining etc.

Secondary : where we need to refine the resources

Tertiary and quarternary: these are basically the service providers such as teachers, bankers, etc.

And factory is a place where is material is produced as per the requirements and it is produced by the labourers.

Hope I answered your query

Thank you

Hello Aspirant,

Industry is the production of material or service products that contribute to an economy. A factory is a building where the actual manufacturing of the product takes place.In many cases, the terms factory and industry are used interchangeably, but the meaning of these words are not the same. In fact, industry refers to the production of economic goods. These goods can be materials, products or services. A factory, on the other hand, is the actual location where the materials or products are produced or created.