Barriers to Entry Include Economies of Scale and Network Effects

question 277

True/False

Barriers to entry include economies of scale and network effects.

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Definitions:

Recessions

Intervals of brief economic downturn during which there is a reduction in trade and industry activity, most often marked by a decline in GDP over two successive quarters.

Government Spending

Expenditures made by the government for the purpose of maintaining the economy and public services.

Paradox Of Thrift

The economic theory suggesting that increased saving in the aggregate can lead to a decrease in economic growth, income, and spending.

National Output

National output is the total value of services and goods produced by a country's economy over a specified period of time, essentially synonymous with Gross Domestic Product (GDP).