| Difference between agriculture and industry | 
| Agriculture | Industry | 
| 1. Agricultural production is affected by the climate factors. Y= f (x1, x2 , ………….….. xn) + ui ui= Exogenous variables, like: over flood, over rainfall, drought. cyclone, sidre etc. | 1. The climate factors do not affect the industrial production. Y= f (x1, x2 , ………….….. xn) There is no effect of exogenous variables in the industrial production. | 
| 2. The risk and uncertainty is existed in agriculture. Such as: Resources uncertainty, Production uncertainty, technological uncertainty, price uncertainty etc. | 2. The risk and uncertainty are existed in industry. | 
| 3. Large area of land is needed for agricultural production. | 3. Large area of land is not needed for industrial production. | 
| 4. Agricultural products arc perishable. | 4. Industrial products are not perishable. | 
| 5. Illiterate and inefficient labour can be employed in agriculture. | 5. Illiterate and inefficient labour cannot be employed in industry. | 
| 6. Agricultural commodities are produced maintaining the long time duration. | 6. Industrial commodities are produced maintaining the short time duration. | 
| 7. Demand and supply of agricultural products are inconsistent. | 7. Demand and supply of industrial products arc consistent. | 
| 8. Shadow unemployment is existed in aquiculture. | 8. Shadow unemployment is not existed in industry. | 
| 9. Industrial products are used as raw materials in agriculture. | 9. Agricultural products are used as raw materials in industry. | 
| 10. Price fluctuation is very high in agriculture. | 10. Price fluctuation is very low in industry. | 
| 11. Agricultural farms are called subsistence farms. Farm is led for livelihood. | 11. Industrial farms are called commercial farms. Farm is led for profit. | 
