Industry

Industry is the production of an economic good or service within an economy.

Industrial sectors:
Industry is often classified into three sectors: primary or extractive, secondary or manufacturing, and tertiary or services. Some authors add quaternary (knowledge) or even quinary (culture and research) sectors. Primary (extractive) This involves the extraction of resources directly from the Earth, this includes farming, mining and logging. They do not process the products at all. They send it off to factories to make a profit. Secondary (manufacturing) This group is involved in the processing products from primary industries. This includes all factoriesthose that refine metals, produce furniture, or pack farm products such as meat. Tertiary (services) This group is involved in the provision of services. They include teachers, managers and other service providers. Quaternary (knowledge) This group is involved in the research of science and technology. They include scientists. Quinary Sector (cultural & research) Some consider there to be a branch of the quaternary sector called the quinary sector, which includes the highest levels of decision making in a society or economy. This sector would include the top executives or officials in such fields as government, science, universities, nonprofit, healthcare, culture, and the media. Industries can be classified on the basis of raw materials, size and ownership. Raw Materials: Industries may be agriculture based, Marine based, Mineral based, Forest based.

Size: It refers to the amount of capital invested, number of people employed and the volume of production. Ownership: Industries can be classified into private sector, state owned or public sector, joint sector and co-operative sector

ISIC
ISIC stands for International Standard Industrial Classification of all economic activities, the most complete and systematic industrial classification made by United Nations Statistics Division. ISIC is a standard classification of economic activities arranged so that entities can be classified according to the activity they carry out. The categories of ISIC at the most detailed level (classes) are delineated according to what is, in most countries, the customary combination of activities described in statistical units, and considers the relative importance of the activities included in these classes.

Factory
A factory (previously manufactory) or manufacturing plant is an industrial building, or more commonly a complex having several buildings, where workers manufacture goods or operate machines processing one product into another.

Result An "industry" is a particular field of business. For example, the car manufacturing industry. A factory would be a place where the industry would be put into practice. A car factory would make cars, but it wouldn't be the only place where the "car manufacturing industry" took place. Factory: A building or group of buildings in which goods are manufactured; a plant. Industry: Commercial production and sale of goods.