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Industry refers to a specific group of similar types of companies, while sector describes a larger segment of the economy. A sector generally represents a group of similar industries and markets while an industry is a more specific grouping pertaining to a group of similar business activities. The system is similar to icb (industry classification benchmark), a classification structure maintained by ftse group.
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An industry is a subsection of a sector representing a group of businesses that have strong similarities in the markets in which they operate Industry refers to a much more specific group of companies or businesses, while the term sector describes a large segment of the economy. Industries are more specifically defined than sectors.
Industries and sectors are terms used by economists to define and analyze a given economy—world, national, regional, or local—and by financial analysts to break down the stock or equity market.
In economics, industries are generally classified as primary, secondary, tertiary, and quaternary Secondary industries are further classified as heavy and light This sector of a nation’s economy includes agriculture, forestry, fishing, mining, quarrying, and the extraction of minerals. Guide to industry vs sector
Here we discuss the difference between industry and sector along with infographics and a comparison table. Explore the terms industry versus sector by learning what each economic concept means and what key characteristics they have to help you tell them apart. Industry and sector are two terms that are often used interchangeably, but they have distinct meanings An industry refers to a specific branch of economic activity that involves the production of goods or services
It focuses on the type of products or services being produced and the companies involved in their production.
Although they may seem the same, the terms industry and sector have slightly different meanings
