Economies of Scale, Absolute Cost Advantages, High Capital Start-Up Costs

question 47

True/False

Economies of scale, absolute cost advantages, high capital start-up costs, and access to channels of distribution are all examples of "barriers to entry".

---

Definitions:

Government Expenditures

The total amount spent by the government, including spending on goods, services, and public works, and transfer payments.

GDP Components

The parts that make up Gross Domestic Product, generally categorized as consumption, investment, government spending, and net exports.

GDP

Gross Domestic Product, the total monetary value of all final goods and services produced within a country's borders in a specific time period.

American Tourists

Individuals from the United States who travel to different countries or destinations for pleasure, leisure, or cultural experiences.