Which of the following best describes an industry that consists of many small firms?
A) Fragmented
B) Growth
C) Mature
D) Declining
E) Diverse

Question

Quizplus · Accepted Answer

A fragmented industry consists of many small firms with no dominant player in the market. Each firm has a small market share and operates independently. This type of industry is common in sectors such as retail, restaurants, and hospitality.

Which of the Following Best Describes an Industry That Consists