The U.S.major home appliance industry is an example of an industry
A) that has evolved from an oligopoly to a monopoly.
B) in which each company maintained a distinct product line.
C) that was once fragmented, but now is consolidated.
D) that has experienced consistent, increasing sales.
E) experiencing a successful strategy of product specialization because of product differentiation.

Question

Quizplus · Accepted Answer

The U.S. major home appliance industry was once fragmented, characterized by many small companies producing only a few items. Over time, consolidation has taken place, resulting in a few large corporations dominating the market.

The USMajor Home Appliance Industry Is an Example of an Industry