Question

Industries in which a large number of small or medium-sized firms operate and no small set of firms has dominant market share or creates dominant technologies are called ________ industries.

A) fragmented
B) mature
C) emerging
D) declining

Answer 1

Industries with many small firms and no dominant market share are called fragmented industries.

Step-by-step explanation:

Industries 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 are called fragmented industries. These industries are characterized by a situation where economies of scale are very small compared to the size of demand in the market, meaning there are numerous firms competing, often on a local or regional basis, with none having a significant portion of the overall market.