A group of firms manufactures writing implements such as pens, pencils, and markers. This group should be referred to as a(n):
A) substitute.
B) market segment.
C) service provider.
D) regulator.
E) industry.

Question

Quizplus · Accepted Answer

The group of firms that manufacture writing implements such as pens, pencils, and markers is an industry. An industry is a group of firms that produce similar or related goods or services.

A Group of Firms Manufactures Writing Implements Such as Pens