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- The main difference between factories and industries is that12345:
- Industry refers to the production of economic goods, which can be materials, products or services.
- A factory is the actual location where the materials or products are produced or created.
- A factory refers to a physical location or site that produces or makes things or interacts with business procedures.
- An industry refers to a collection of businesses that are entrusted with manufacturing and/or providing services.
- Factories are considered to have a narrow scope, while industries are broader in scope.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.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.specialties.bayt.com/en/specialties/q/286026/what …The fundamental distinction between a factory and an industry is that a factory refers to a physical location or site that produces or makes things or interacts with business procedures, whereas an industry refers to a collection of businesses that are entrusted with manufacturing and/or providing services.www.diffzy.com/article/difference-between-factory-…A factory is called in reference to a site or a location where things are made with the help of machines. An industry is known as a collection of similar kinds of factories or manufacturers. All factories can be listed under industries. Industries, on the other hand, refers to a concept or a notion. Factories are considered to have a narrow scope.askanydifference.com/difference-between-factory-a…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.www.toppr.com/ask/question/distinguish-between-f…1. ‘Industry’ is the production of economic goods and services while ‘factory’ is a place where goods are produced or manufactured. 2. Both are involved in the economic process but an industry is broader in scope while a factory is not.
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