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Industry refers to the production of goods or services within an economy. It involves the transformation of raw materials or components into finished products that can be sold or used by consumers. Industries can range from small-scale businesses to large multinational corporations, and they can cover a wide range of sectors such as manufacturing, agriculture, construction, technology, and services. 

The growth and development of industries can have a significant impact on job creation, economic development, and overall quality of life in a given region or country.