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What Is The Difference Between Firm and Industry?

An industry is a type of business in the economy, while a firm is a specific business organization or entity that operates within an industry. A firm consists of one or more business locations under common ownership and control. It is typically a corporation, limited liability company, or partnership that provides goods or services within an industry.

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343 views

What Is The Difference Between Firm and Industry?

An industry is a type of business in the economy, while a firm is a specific business organization or entity that operates within an industry. A firm consists of one or more business locations under common ownership and control. It is typically a corporation, limited liability company, or partnership that provides goods or services within an industry.

Uploaded by

anyzen
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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What is the difference between firm and industry?

An industry is a type of business in the economy while a firm is a unit or entity carrying a portion of the business in an economy.
Firm: A business organization or entity consisting of one domestic establishment (location) or more under common ownership or control. All establishments of subsidiary firms are included as part of the owning or controlling firm.

Definition of 'Firm'
A business organization, such as a corporation, limited liability company or partnership. Firms are typically associated with business organizations that practice law, but the term can be used for a wide variety or business operation units.

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