Examlex
What is the character of land used in an active trade or business for two years?
Contestable Markets
Markets where the entry and exit of firms are so easy that the market always remains competitive, ensuring that prices remain close to marginal costs.
Barriers To Entry
obstacles that make it difficult for new competitors to enter a market, including high startup costs, access to technology, and stringent regulations.
Competitive
Characterizes a market scenario where multiple sellers strive to attract customers by offering better terms, prices, or products.
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