A(n) ________ is a group of firms producing a similar product or service, such as electronic games, smartphones, or computers.
A) trade group
B) industry
C) business group
D) commerce group
E) conglomerate

Question

Quizplus · Accepted Answer

An industry is defined as a group of firms producing a similar product or service. Trade groups and business groups can refer to a variety of different types of organizations, while a conglomerate refers to a company made up of multiple different business entities. A commerce group is not a common term in business.

A(n) ________ Is a Group of Firms Producing a Similar