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Low Barriers
Refers to the minimal obstacles or constraints in entering a market or sector, allowing for easier access for new competitors.
Standardized Products
Goods that are uniform in quality and characteristics, allowing them to be mass-produced and interchangeable.
Barriers To Entry
Elements that obstruct or discourage new entrants from smoothly accessing a market or business sector.
Monopolistic Competition
A market structure featuring many companies selling similar but not identical products, allowing for some degree of market power and product differentiation.
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