Industries in Which a Large Number of Small or Medium-Sized

question 89

Multiple Choice

Industries in which a large number of small or medium-sized firms operate and no small set of firms has dominant market share or creates dominant technologies are called ________ industries.

• A) fragmented
• B) mature
• C) emerging
• D) declining

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Definitions:

Cotton Farming

The agricultural practice of cultivating the cotton plant for its fibers, which are harvested and processed into textile products.

Substantial Entry Barriers

Significant obstacles that prevent or hinder new competitors from easily entering an industry or market.

Dominant Firms

Companies that possess a major share of the market and typically have considerable power to influence market conditions and prices.

Low Entry Barriers

Characteristics of a market or industry that make it easy for new companies to start operations and compete.