In Which Industries Would You Find a Heavy Concentration of Small

question 78

Multiple Choice

In which industries would you find a heavy concentration of small businesses

• A) Veterinary services
• B) Florist
• C) Aluminum manufacturing
• D) Both a. and b.

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Definitions:

Board Of Governors

The executive leadership of an institution or organization, such as the Federal Reserve in the United States, responsible for setting policies and overseeing operations.

Industry Life Cycle

Describes the stages of growth and development that an industry goes through from its inception to decline, typically including introduction, growth, maturity, and decline phases.

Relative Decline

A situation where a country, economy, or entity experiences a decrease in its position or condition compared to others.

Consolidation

The process by which businesses combine to form a new entity or one business absorbs another, often to increase market share and reduce competition.