An industry is defined as: a. firms producing items that sell through the same distribution channels. b. firms that sell the same products or services to the same customer base. c. a group of firms producing the same products or services. d. a group of firms producing products that are close substitutes.

Question

Kathy Bryan

Business

22 April, 05:33

An industry is defined as: a. firms producing items that sell through the same distribution channels. b. firms that sell the same products or services to the same customer base. c. a group of firms producing the same products or services. d. a group of firms producing products that are close substitutes.

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Answers (1)

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Zachary · Answer 1

d. a group of firms producing products that are close substitutes.

Explanation:

An industry -

It refers to the sector of the society, which is responsible for the production of various goods and services within the boundaries of the society, is referred to as an industry.

The profit and success of the country's economy reflects the prosperity of the country.

Hence, from the given information of the question,

The correct option is d.