Question

Which statement about the pet goods market is CORRECT?

I) The market for pet goods has been on the rise in recent years due to the lower costs of producing pet goods.
II) One reason for the growth of the pet goods market has been the increase in the number and availability of goods and services for pets.
III) Like other markets, the pet goods market typically declines when the there are downturns in the economy.

Answer 1

I) The market for pet goods has been on the rise in recent years due to the lower costs of producing pet goods.

II) One reason for the growth of the pet goods market has been the increase in the number and availability of goods and services for pets.

III) Like other markets, the pet goods market typically declines when the there are downturns in the economy.

Step-by-step explanation:

Owning a pet store can be a profitable business regardless of the performance of the larger economy. Pet stores have shown revenue growth even during recessions, as owners have cut back on their own spending before reducing the standard of living for their pets.