Examlex
Which of the following features of e-commerce technology changes industry structure by lowering barriers to entry but greatly expands the market at the same time?
Franchise
A type of license that grants a franchisee access to a franchisor’s proprietary knowledge, processes, and trademarks, allowing them to sell a product or service under the business's name.
Supply Curve
A graph showing the relationship between the price of a good and the amount of the good that producers are willing to supply.
Perfectly Competitive
A market structure characterized by a complete absence of rivalry among the sellers and it implies an industry or market in which many sellers offer identical products.
Benchmark Pricing
A method of pricing where a standard or reference price is used to set or compare the price of goods and services.
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