Licensing and Permit Requirements Are Two Examples of Which Type

question 36

Multiple Choice

Licensing and permit requirements are two examples of which type of entry barrier?

• A) government policy
• B) differentiation
• C) switching costs
• D) economies of scale

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Definitions:

Specific Period

A defined length of time during which certain events or conditions occur or are measured.

Patronage

The support or regular business given to a store, hotel, or other service provider by customers.

Behavioral Segmentation

The process of dividing a market into groups based on consumer knowledge, attitudes, uses, or responses to a product.

MicroFridge

A compact combination of a refrigerator and microwave oven, typically used in small living spaces such as dormitory rooms.