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You are viewing the first page/citation. Full-text access may be available if you are affiliated with a participating library or publisher. Check access options or login if you have an account. + Show full citation The Firm, the Industry, and the Long-Run Demand for Factors of Production Lowell R. Bassett and Thomas E. Borcherding The Canadian Journal of Economics / Revue canadienne d'Economique Vol. 3, No. 1 (Feb., 1970), pp. 140-144 (article consists of 5 pages) Published by: Blackwell Publishing on behalf of the Canadian Economics Association Stable URL: http://www.jstor.org/stable/133814

The Canadian Journal of Economics / Revue canadienne d'Economique 1970 Canadian Economics Association.

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All the three words are interrelated and it is quite difficult to differentiate. Basically industry refers to a product where as firm means a company engaged in business related to that particular product and plant is a place where the manufacturing of that product takes. Now an example by which you can understand this better. Chennai based TVS Motor Co is a well established FIRM in two wheeler INDUSTRY who have their manufactureing PLANT at Hosur inTamil Nadu as well as another PLANT at Mysore in Karnataka. 4 years ago 0 Rating: Good Answer 0 Rating: Bad Answer Report Abuse 0% 0 Votes

by vikar Member since: 03 July 2006

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a firm is a single unit in some business while industry is the collection of the firms doing similar business. for eg raymond is a textile making while the industry is textile industry 4 years ago 0 Rating: Good Answer 0 Rating: Bad Answer Report Abuse 0% 0 Votes

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