Industry is an essential part of the world economic system, as it provides the goods and services that are necessary for the functioning of the economy. Industry is responsible for the production of goods and services, which are then sold to consumers. This helps to create jobs, stimulate economic growth, and generate revenue for governments. Industry also provides the infrastructure and resources necessary for other sectors of the economy, such as agriculture, to function. Without industry, the world economy would be unable to function properly.
