Final answer:
Vertical market software is tailored for specific industries, and the assertion that it is for a broad spectrum of users across many industries is false. Horizontal market software is the correct term for such broad-spectrum industry software. Market definitions, like that of Microsoft's software dominance, affect perceived market concentration.
Step-by-step explanation:
The statement that industry-standard software designed to meet the needs of a broad spectrum of users across a wide variety of industries is called vertical market software is False. Vertical market software is actually designed to meet the specific needs of a particular industry or market. On the other hand, software designed for a wide range of industries, with more general applicability, is known as horizontal market software. Microsoft is an example where defining the market can impact the perceived concentration, as seen with their operating system software, which dominated a narrow market but constituted a smaller share when considering the broader market of all computer software and services.