E

question 25

Essay

e

---

Definitions:

Easy Entry And Exit

Characteristics of a market where companies can freely enter or leave without significant barriers or costs.

Patented Prescription Drug

A medication that is protected by a patent, giving its manufacturer the exclusive right to produce and sell the drug for a certain period.

Lack Of Substitutes

A market condition where there are no close alternatives to a product, leading to higher consumer dependency on that product.

Monopoly

An industry controlled by a monopolist.