The following is the main difference between firm and industry ____________
A. Industry is the group of firms producing related products B. Industry is the group of firms in the manufacturing sector C. Industry is the group of firms in different sectors of the economy D. Industry is the group of firms with a single pressure group
Correct Answer: A
Explanation
An industry is a collective word used to refer to group of forms that are engaged in the same line of production e.g. firms producing clothes are called members of the textile industry.
