Factory vs Industry
Factory and industry are intertwined in the development of the economy of a country or a state. A factory is a manufacturing plant. Industry refers to the production of a material or service within an economy. This is the main difference between factory and industry.
Factories are characterized by the presence of warehouses whereas industry is not so. The purpose of the warehouses is to store huge equipment necessary for the production of goods.
Factories gather resources such as laborers, capital and plant. On the other hand industry is primarily divided into sectors. In fact it is divided into four sectors namely, primary sector, secondary sector, tertiary sector and quaternary sector.
Economics and industry are very closely related than economics and factory. Depending upon the economy of a particular region or a country people keep moving from one sector of industry to the next sector.
Factories create growth in economy whereas industries make use of the growth in the economy to move further. Thus it is essential to have a perfect blend of both factories and industries if any given country has to grow in its stature.
For example steel factories would prompt a growth in the economy of a region or a state. This in turn would pave the way for the development of steel industry and the advancement in the particular industrial sector. Thus the region or the state keeps moving from one sector to the next.
Factorial development would take place if industrial development keeps on growing. Once the industrial development comes to a halt factorial advancement also would come to a halt. In other words it would mean that more and more development in the steel industry would pave the way for the construction of more and more steel factories.
Thus it is understood that industrial development is all about production. It is the production that makes any industry to grow by leaps and bounds.