An industry that has growing sales across all the companies in the industry based on growing demand for the relatively new products,technologies and/or services made available by the firms participating in this industry is called a(n)_______ industry.

Question

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An emerging industry is characterized by growing sales across all companies due to the demand for new products, technologies, and services offered by the firms in that industry. These industries are typically in the early stages of development and are expected to experience rapid growth in the near future. Mature industries, on the other hand, have stable or declining sales as the market becomes saturated with existing products and services, and low-cost industries focus on achieving cost efficiencies to remain competitive. A focus industry is one where firms specialize in a specific market or niche.

An Industry That Has Growing Sales Across All the Companies