1. In fundamental analysis, industry analysis is the a. first step b. second step c. third step d. fourth step 2. Industry analysis is important because: a. companies can only do as well as their industry b. industries often have an inverse relationship to the market. c. industries perform very differently over time d. companies in declining industries lose money 3. Which life cycle stage generally sees industries improving their products, and start to attract considerable investment funds? a. pioneering stage b. expansion stage c. stabilization stage d. maturity stage 4. The basic competitive factors facing industries include all of the following except: a. bargaining power of suppliers b. threat of government regulation c. rivalry between existing competitors d. threat of substitute products 5. When conducting industry analysis, investors should consider the historical record of all the following except a. sales growth. b. ea rnings growth C. interest rates. d. price performance