Which of the Following Can Serve as an Entry Barrier

question 135

Multiple Choice

Which of the following can serve as an entry barrier?

• A)legal restrictions 
• B)patents 
• C)control of scarce resources or inputs 
• D)All of the above are correct.

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Definitions:

Wagner Act

Also known as the National Labor Relations Act of 1935, it established the right of workers to form unions and engage in collective bargaining.

Taft-Hartley Act

A U.S. federal legislation from 1947 that limits the power and actions of trade unions.

First Amendment

A fundamental part of the United States Constitution that protects freedoms concerning religion, expression, assembly, and the right to petition.

Union Contract

A written agreement between an employer and a labor union that outlines the terms of employment, wages, benefits, and working conditions for unionized employees.