The characteristic profile of an industry life cycle has an 'S' shaped curve because:

Question

Quizplus · Accepted Answer

The 'S' shaped curve in an industry life cycle reflects the changes in rates of growth of market demand. Initially, the demand for a new industry/product is slow, but as it gains acceptance and popularity, the demand grows rapidly, leading to a period of rapid growth. Eventually, the market becomes saturated, and the growth rate slows down, reaching a mature stage where demand stabilizes. This generates an 'S' shaped curve. The other choices (A, B, and C) are not accurate explanations.

The Characteristic Profile of an Industry Life Cycle Has an 'S