An Example of a Government-Imposed Barrier to Entry Gives a Firm

question 169

Multiple Choice

An example of a government-imposed barrier to entry gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented.This entry barrier is known as

• A)a copyright.
• B)a patent.
• C)an exclusive marketing agreement.
• D)a tariff.

---

Definitions:

Multitasking

The ability or practice of performing multiple tasks simultaneously or switching between tasks quickly.

Work Streamlining

The process of optimizing workflow and processes in a working environment to improve efficiency and reduce unnecessary steps or resources.

Eliminate Tasks

The process of removing or reducing unnecessary or unproductive tasks to improve efficiency.

Increasing Revenue

The process of growing the amount of money generated from a business's operations, typically by enhancing sales, expanding markets, or improving pricing strategies.