DECLINING INDUSTRY

It is an industry that is going to go down and will affect the economic growth of a country. Or it is an industry that once had a good blown industry but as time goes by it is slowly going down. Reasons for a declining industry are the consumer demand may be steadily evaporating, the depletion of a natural resource may be occurring, or there may be the emergent substitutes because of technological innovation. An example of a declining industry is the railroad industry, it xperienced decrease in demand but has failed to remain competitive in pricing and it is more efficient than the airlines and trucking services.