The history of every dead and dying "growth" industry shows a self-deceiving cycle of bountiful expansion and undetected decay.There are four conditions:

1. The belief that growth is assured by an expanding and more affluent population.
2. Too much faith in mass production
3. the belief that there is no competitive substitute for the industry's major product
4. Preoccupation with a product that lends itself to carefully controlled scientific experimentation

IS THIS STATEMENT TRUE OR FALSE? WHY? EXPLAIN