Question

Industry is best defined as______.

Options

• Buying and selling of finished products.

• Transforming raw materials into usable goods using manpower, machines, and capital.

• Providing services like banking and transportation.

• Growing crops and extracting minerals.

Answer 1

Industry is best defined as transforming raw materials into usable goods using manpower, machines, and capital.

Explanation: Industry refers to the process of converting raw materials into finished or usable goods through the combined effort of labor, machinery, and capital investment.