Question on: JAMB Economics - 2023
An industry is
A
A group of firms producing differentiated products
B
A group of firms producing distinct commodities
C
A group of firms producing related goods
D
A group of firms producing unrelated goods
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Correct Option: C
An industry is a group of firms producing related goods or services. The firms within an industry are involved in the production of products or services that are related or similar in nature.
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