Examlex
What would be the value of the variable list after the execution of the following code? list = [1, 2]
List = list * 3
Scarce Factor
A resource or input in limited supply relative to demand, which can constrain production, increase costs, or cause competition.
Diamond Monopoly
A diamond monopoly refers to a market structure where a single firm has exclusive control over the production and sale of diamonds.
Barriers To Entry
Obstacles that make it difficult for new competitors to enter a market, such as high start-up costs, complex regulations, or strong brand loyalty among consumers.
Economies Of Scale
Reductions in per unit costs achieved through increased levels of production.
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