An industry is a part of the economy that involves the production of goods, extraction of minerals, or the provision of services. Industries are to usually categorized by the goods and services they produce, such as the pizza industry or the automobile industry. Individual as companies are generally assigned to an industry based on their largest sources of revenue.

“I am convinced that when confidence has been established amongst all nations of the world, the present capacity of industrial countries will not be sufficient to satisfy.”

The term "industry" is a classification for a group of companies that have similar business activities. In modern economies, there are dozens of industry classifications. Industries typically are grouped into larger categories called sectors. Similar businesses are grouped into industries are based on the primary business activities or the primary product that they produce or sell. This creates industry groups, which can then be used to separate businesses from those that participate in different activities.

Meaning of mechanical technology

A specific NAICS industry is Commercial Banking, and it is assigned its own classification code. It is found in the Finance and Insurance sector, a which contains other industries intermediaries, financial investment companies, insurance carriers, funds, trusts, and other financial vehicles.

• I Involves manufacturing and processing raw materials into finished goods like electronics, and cars
• The more productive the industry, the greater the national wealth.
• Stocks within the same industry often rise and fall together because they are affected
• Involves providing services to consumers and businesses like retail, entertainment, and financial services

The Global Industry Classification Standard  is also a commonly referenced classification system. The GICS assigns every public company to an industry group and economic sector that best define its business. For example, “materials” is an economic sector.