Examlex
All of the following are true about PERT charts except:
Natural Monopoly
A market condition where a single firm can supply a good or service to an entire market more efficiently than if there were multiple suppliers, due to high fixed or startup costs.
Investor Owned
Pertains to a business or entity that is privately owned by investors who seek to earn profits from the operation.
Barriers to Entry
Barriers that make it difficult for new entrants to join a market due to financial, legal, or procedural hurdles.
Economic Profit
The distinction in totality between incomes and costs, inclusive of both transparent and concealed expenses.
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