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Question 6What are the four characteristics of industry structure? Choose the four that apply.1 pointDemographicsFirm concentrationCapital intensityAdvertising intensityFirm sizePsychographicsRegulatory issues

Question

Question 6What are the four characteristics of industry structure? Choose the four that apply.1 pointDemographicsFirm concentrationCapital intensityAdvertising intensityFirm sizePsychographicsRegulatory issues

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Solution

The four characteristics of industry structure are:

  1. Firm Concentration: This refers to the number of firms in the industry and their respective market share. A high concentration indicates that a few firms dominate the industry.

  2. Capital Intensity: This refers to the amount of capital that is required to conduct business in the industry. Industries with high capital intensity require significant upfront investment in machinery, equipment, and infrastructure.

  3. Advertising Intensity: This refers to the importance of advertising in the industry. In some industries, firms must spend heavily on advertising to attract customers and maintain market share.

  4. Regulatory Issues: This refers to the laws and regulations that govern the industry. Some industries are heavily regulated, which can affect competition and profitability.

Demographics, firm size, and psychographics are not typically considered characteristics of industry structure.

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