Difference Between Industry And Factory

Difference Between Industry And Factory

The main dissimilarities or difference between industry and factory can be highlighted as follows:

1. Introduction

Industry: An activity of extraction, processing, conversion and production of economic goods and services.

Factory: Location, building, workshop or group of buildings used for the purpose of producing goods and services.

2. Refers To

Industry: It refers to the production process

Factory: It refers to the place of production

      Also Read: 

Difference Between Industry, Commerce And Trade

3. Scope

Industry: It has wider scope than factory as it is a segment and related to various activities related to production (extraction, mining, conversion etc.)

Factory: It is narrow scope than industry because it is just a location. Without industry, there will be no factory.

4. Division

Industry: It can be divided into different units and sectors

Factory: Not possible to divide

Industry Vs Factory (Comparison Chart)

Basis	Industry	Factory
Introduction	Extraction, conversion and production of goods	Location, workshop and building used for producing economic goods
It Is	Production Process	Place Of Production
Scope	Wider	Narrow
Division	Yes	No

I hope this post is helpful to understand the difference between industry and factory and to make comparison between them.