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Declining Industry |
Also found in: Hutchinson | 0.01 sec. |
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Declining Industry An industry producing one or more products that are declining in demand, profitability, or both. A declining industry may be suffering losses, or it may still be making a profit that has been shrinking consistently. An industry may go into decline for a number of reasons. The economy may decline and the industry's products may suddenly be considered luxuries. Alternatively, a new technology may be developed that renders an industry obsolete. For example, the video cassette recording (VCR) industry was performing well for approximately 20 years. However, the introduction of DVDs, which are more efficient and of higher quality, turned the VCR industry into a declining industry. See also: Industry Life Cycle. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| But Rodine says the land shouldn't be preserved for a declining industry when lucrative jet operations could be fueling the Valley economy. Declining occupational employment stems from declining industry employment and technological change. Shrinking employment in a declining industry translates directly into reduced contributions to the multiemployer plan. |
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