An emerging industry is an industry in which a large number of small or medium-sized firms operate and no small set of firms has

Question

Andrew [12]

3 years ago

5

An emerging industry is an industry in which a large number of small or medium-sized firms operate and no small set of firms has

a dominant market share or creates dominant technologies
a. True
b. False

Business

1 answer:

irakobra [83] · Answer 1 · 2022-03-03T00:19:27+03:00

Answer: False

Explanation:

In an emerging market, there are only a few firms as the product is new and so has not been copied extensively yet. As a result, only a small set of firms are dominant in the market.

As the market grows and firms see that there is profit to be made, they will come into the market and this will increase the number of firms and reduce the dominance of the earlier firms.