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 ________ 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 a high level of investment in capital-intensive facilities and has a slow rate of change. Therefore, firms typically form alliances to enter new markets, rather than relying on fast or standard-cycle strategies.

US Steel and Nucor (The Two Remaining Major Players in the U.S