Consider an Economy Where There Are Initially No Barriers to Entry

question 64

Essay

Consider an economy where there are initially no barriers to entry into markets for new entrepreneurs.Everything else remaining unchanged,if the government of the nation decides to impose entry barriers,how will it affect the number of entrepreneurs in the economy? Use a return-to-entrepreneurship curve to illustrate.

---

Definitions:

Scanner Object

A class in Java used for parsing primitive types and strings using regular expressions from an input stream such as stdin.

Initialize

Refers to the process of assigning an initial value to a variable or preparing a new object for use, often in the context of programming.

Prompt User

The process of asking a user for input by displaying a message or a question.

Whitespace

Characters in a text or programming code that are not visible (such as space, tab, and new line), used to separate tokens in the code.