A Barrier to Entry

question 24

Multiple Choice

A barrier to entry

• A) makes it illegal for firms to enter the industry.
• B) can be thought of as unrelated to monopoly.
• C) slows or even prevents entry into a market.
• D) usually takes the form of a cartel.

---

Definitions:

Voice of the People

A term used to describe the opinions, wishes, or preferences of the general public or a particular segment of society.

Basis of Economy

The foundational elements or activities that support and drive the economic systems, such as production, consumption, and trade.

Self-governing

The capability of an organization or entity to regulate itself without external intervention.

Private Sector Organizations

Businesses and corporations operated by private individuals or entities predominantly aimed at earning profits.