U.S.Steel and Nucor (the two remaining major players in the U.S.steel industry) have been forming alliances as a means to enter markets in Europe and Asia.The steel industry is an example of a(n) __________ market in which firms typically use alliances to gain market access.
A) fast-cycle
B) standard-cycle
C) slow-cycle
D) intermediate-cycle

Question

Quizplus · Accepted Answer

The steel industry is considered a slow-cycle market because it involves long-term investments, stable demand, and slower changes in competitive advantages, prompting firms to form alliances for market access.

USSteel and Nucor (The Two Remaining Major Players in the U.S.steel