What are the composition of industry and market respectively?

Industry refers to the organizational structure system of business units or individuals engaged in production, services or other economic and social activities of the same nature in the national economy, also known as industry. But from a strict definition, the concept of industry is greater than industry, and an industry can span (include) several industries.

Market is one of various systems, institutions, procedures, legal strengthening and infrastructure that all parties participate in the exchange. Although all parties can exchange goods and services through barter, most markets rely on sellers to provide goods or services (including labor) in exchange for buyers' money. It can be said that the market is the process of establishing the prices of goods and services. The market promotes trade and the distribution of resources in society. The market allows the evaluation and pricing of any tradable item. The market appears more or less spontaneously, or it can be deliberately constructed through the interaction between people to exchange the rights (such as ownership) of services and goods. The market usually replaces the gift economy, usually through rules and customs (such as booth fees, competitive pricing, the source of goods sold (local agricultural products or stock registration) and threats from the army or the police, if these rules are broken.

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Response time: 2021-11-18. Please refer to the latest business changes announced by Ping An Bank in official website.