A group of firms with products that can substitute for one another is referred to as
A) a strategic group.
B) an external environment.
C) a supplier.
D) an industry.

Question

Quizplus · Accepted Answer

A group of firms with products that can substitute for one another is referred to as an industry. An industry consists of all the firms offering products or services that are close substitutes for each other.

A Group of Firms with Products That Can Substitute for One