Write the differences between firm and industry. – InterviewSolution

1.

Write the differences between firm and industry.

Answer»

Firm	Industry
1.Firm refers to a single individual unit of business inside an industry.	1. Industry refers to a group of firms doing the same business.
2.It operates within an industry.	2.Operates within an economy
3.There will be existence of one firm.	3.There can be many firms in an industry
4.No separate rules and regulations for a firm.	4.Rules and regulations are made specifically for a particular industry.

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