GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Barriers to entry
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Factors of production
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Limited supply
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Monopolistic Outlook
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Detailed explanation-1: -Barriers to entry is an economics and business term describing factors that can prevent or impede newcomers into a market or industry sector, and so limit competition. These can include high start-up costs, regulatory hurdles, or other obstacles that prevent new competitors from easily entering a business sector.
Detailed explanation-2: -Factors that make it difficult for new firms to enter a market are called barriers to entry.
Detailed explanation-3: -Barrier to entry is the high cost or other type of barrier that prevents a business startup from entering a market and competing with other businesses. Barriers to entry are frequently discussed in the context of economics and general market research.
Detailed explanation-4: -There are 4 main types of barriers to entry – legal (patents/licenses), technical (high start-up costs/monopoly/technical knowledge), strategic (predatory pricing/first mover), and brand loyalty.
Detailed explanation-5: -Advertising and Marketing. Capital Costs. Monopolization of Resources. Cost Advantages (excluding economies of scale) Customer Loyalty. Distribution. Economies of Scale. Regulatory Barriers. More items