Question

U.S. Steel and Nucor (the two remaining major players in the U.S. steel industry) have been forming alliances as a means to enter markets in Europe and Asia. The steel industry is an example of a ________ market in which firms typically use alliances to gain market access.

Answer 1

Answer: Slow-cycle

Step-by-step explanation:

The slow-cycle market is one of the type shielded market in which the organization maintain the monopoly like the competition pressure.

This type of market are very rare as compared to the other standard and fast market available in the market. In the slow-cycle market the available resources are very limited.

According to the given question, the steel industry is one of the example of slow cycle market in an organization.

Therefore, The slow cycle market is the correct answer.