【每日一练】CFA 一级（2015年）

Question：

An industry experiencing slow growth, high prices, and volumes insufficient to achieve economies of scale is most likely in the: 
A. shakeout stage. 
B. mature stage. 
C. embryonic stage. 
 

Answer = C 
An embryonic industry is one that is just beginning to develop and is characterized by slow growth, high prices, volumes not yet sufficient to achieve meaningful economies of scale, developing distribution channels, and low brand loyalty because there is low customer awareness of the industry’s product.
 

CFA Level I
“Introduction to Industry and Company Analysis,” Patrick W. Dorsey, Anthony M. Fiore, and Ian Rossa O’Reilly
Section 5.1.5.1

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