Q272
A growth industry is defined as ____________.
A.
an industry with 15% rate of growth per annum
B.
an industry where demand for its product is growing
C.
an industry with high capital investment
D.
an industry with average growth higher than the growth of the economy
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
A growth industry is defined as an industry with average growth higher than the growth of the economy. A growth industry is that sector of an economy which experiences a higher-than-average growth rate as compared to other sectors. Growth industries are often new or pioneer industries that did not exist in the past. Their growth is a result of demand for new products or services offered by companies in the field.