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Declining Industry |
Also found in: Hutchinson | 0.07 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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| The conventional munitions industrial base today is a declining industry for which 56 percent of the end items have no peacetime demand, capital assets have been allowed to deteriorate, and 70 percent of the firms have exited leaving over 300 critical single points of failure. A mining center for anthracite coal, Shamokin lies in an area of declining industry and mineral production. are examples of occupations that will lose employment because of declining industry employment. |
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