Questions: Multiple Choice Question The life cycle is the sequence or pattern of developmental stages any firm goes through during its life span. opportunity product business industry

The answer is: business

Explanation for each option:

1. Opportunity: This term refers to a favorable set of circumstances that creates a need for a new product, service, or business. It is not typically used to describe a sequence of developmental stages.

2. Product: The product life cycle describes the stages a product goes through from introduction to decline. While this is a valid concept, it does not encompass the broader developmental stages of a firm itself.

3. Business: The business life cycle is the correct term for the sequence of stages a firm goes through during its life span. These stages typically include startup, growth, maturity, and decline.

4. Industry: The industry life cycle refers to the stages an entire industry goes through, from emerging to mature and potentially declining. This is broader than the life cycle of a single firm.

Therefore, the correct answer is "business" as it accurately describes the sequence of developmental stages a firm goes through during its life span.