Question 35
Business OrganisationsAn industry is best described as
- A.firm that sells a set of closely related commodities.
- B.a factory that produces different lines of products
- C.a group of firms that sell a closely related set of products
- D.industrial concern that is into production and selling of goods.
Show the answer and explanation
Answer: C (a group of firms that sell a closely related set of products)
Explanation
An industry is all the firms producing similar products.