Entry Barriers

question 270

Multiple Choice

Entry barriers:

• A)exist in all market structures.
• B)exist in perfect competition and monopolistically competitive markets.
• C)do not exist in any market structures;otherwise nothing would be produced.
• D)exist in monopoly and oligopoly markets.

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Definitions:

Decentralization

The distribution of decision-making powers and operational activities away from a central authoritative location or group.

Advantage

A condition or circumstance that puts one in a favorable or superior position.

Cost Driver

A cost driver is a factor that causes a change in the cost of an activity, influencing the cost of production and operation in both direct and indirect cost management.

Support Department

A non-production department that provides essential services and support to the production departments and other parts of an organization.