The more diverse the industry, the more likely there will be substitute products and services.

Question

Quizplus · Accepted Answer

When there are many different businesses and options available in an industry, there is a greater chance that consumers will be able to find alternative products or services that meet their needs. This can increase the competition and make it more challenging for any one business to succeed. Additionally, new startups may be able to enter the market more easily, since there are more opportunities to differentiate themselves from existing businesses.

The More Diverse the Industry, the More Likely There Will