Which statement about the pet goods market is CORRECT? I) The market for pet goods has been on the rise in recent years due to the lower costs of producing pet goods.
II) One reason for the growth of the pet goods market has been the increase in the number and availability of goods and services for pets.
III) Like other markets, the pet goods market typically declines when there are downturns in the economy.

Question

Quizplus · Accepted Answer

The growth of the pet goods market is largely attributed to the increase in the variety and availability of goods and services for pets, not necessarily due to lower production costs or economic downturns.

Which Statement About the Pet Goods Market Is CORRECT? I)