What is the INDUSTRY?
In economics, the production of goods or giving services that are the main source of income for a group, a company, or a country is called an INDUSTRY.
The main source of income of a group or company represents the relevant industry.
If we consider all the economic activities that deal with the production of goods and services did man-made or do it by machinery and equipment as well, each industry is a subset of this total, which includes a large number of similar activities.
Final definition for industry: The set of all units that are involved in the production, distribution, or consumption of a product or a group of similar products is called an “industry”.
Although services or tourism are a part of the industrial, when we talk about industrialized countries, the predominant aspect is the industrial has related to various machines and manufacturing plants. Nowadays, the countries that have the ability to build vehicles of any kind, or have reached the ability to build trains, ships, space industries, and the like, are called industrialized or developed countries. Therefore, the industrial world does not refer to some of the countries in the world. Developing countries also have finally been able to launch assembly industries with the help of developed countries. But what is meant by global industry? Global industry means the production of different components of a product in different countries.
This means that the main producing countries of the industry, in order to achieve a better cost price, try to produce the components of a manufactured product in accordance with the industrial development of other countries or having local raw materials there. There are many examples of this. In the aviation industry, for example, Boeing no longer manufactures zero to one hundred of its products in the United States, and various parts of Boeing’s products are now manufactured in factories such as BMW, Rolls-Royce, and Samsung. Or in the production of computers now, different countries make their components and thus the industrial world has become a global industry.
