A Fragmented Industry Is Dominated by a Few Large Firms,each

question 51

True/False

A fragmented industry is dominated by a few large firms,each of which struggles to differentiate its products from the competition.

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Definitions:

Capital Goods

Long-lasting goods acquired by a business to produce goods or services, as opposed to being sold directly to consumers.

Productive Resources

Inputs used in the production of goods or services in order to make an economic profit. These include land, labor, capital, and entrepreneurship.

Consumer Goods

Products and services that are purchased or consumed by individuals or households for their direct satisfaction and needs.

Pollution Permits

Allowances provided by government authorities that enable the holder to emit a specific amount of pollutants into the environment.