A(n) ________ is a group of firms producing a similar product or service, such as soft drinks, electronic games, or computers.
A) cluster
B) division
C) sector
D) industry
E) network

Question

Quizplus · Accepted Answer

An industry encompasses all the firms producing a similar product or service. Clusters refer to a geographical concentration of firms in a particular industry or related industries. A division typically refers to a segment or sub-unit of a larger company. A sector refers to a broader category of the economy, such as the automotive sector or the healthcare sector. A network refers to a group of interconnected individuals or organizations.

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