Other Definitions
industry (dict)
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Industry - For other uses of this term, see Industry (disambiguation)
An industry is generally any grouping of businesses that share a common method of generating profits, such as the "movie industry", the "automobile industry", or the "cattle industry". It is also used specifically to refer to an area of economic production focused on manufacturing which involves large amounts of upfront capital investment before any profit can be realized, also called "heavy industry." Industry in the second sense became a key sector of production in European and North American countries during the Industrial Revolution, which upset previous mercantile and feudal economies through many successive rapid advances in technology, such as the development of steam engines, power looms, and advances in large scale steel and coal production. Industrial countries then assumed a capitalist economic policy. Railroads and steam-powered ships began speedily integrating previously impossibly-distant world markets, enabling private companies to develop to then-unheard of size and wealth. Following the Industrial Revolution, perhaps a third of world's economic output is derived from manufacturing industries—more than agriculture's share, but now less than that of the service sector. In economics and urban planning, industrial is an intensive type of land use and economic activity involved with manufacturing and production. List of industries and prominent companies The North American Industry Classification System and other national variants identify sectors of economic activity for statistical and national accounting purposes. Steel production See also
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