ENTREPRENEURSHIP

Detailed explanation-1: -Industry structure can also be defined as how concentrated or fragmented an economic sector is. This is because it describes the underlying attributes and characteristics of an industry. Therefore, it is correct to argue that an industry structure indicates the frequentness and concentration of industry.

Detailed explanation-2: -Based on the distribution of market share in an industry, we differentiate between concentrated and fragmented industries. A market with many participating firms holding a small market share is considered fragmented. By contrast, having just a few players that dominate an industry speaks for a concentrated environment.

Detailed explanation-3: -Industrial concentration” refers to a structural characteristic of the business sector. It is the degree to which production in an industry-or in the economy as a whole-is dominated by a few large firms.

Detailed explanation-4: -The more highly concentrated a market is, the less competitive it is. A market with low concentration is not dominated by any large players and is considered competitive. Markets with extremely low concentrations are said to be fragmented.