Examlex
Explain why the Bormann-Likens scientific investigation of clear-cutting forest watersheds is considered reliable science.
High Start-Up Costs
The significant initial investment required to establish a new business, which can include expenses related to research and development, manufacturing, marketing, and administrative infrastructure.
Few Competitors
A market condition where only a small number of firms operate, often leading to higher prices and reduced competition.
Oligopoly
Market structure in which relatively few sellers compete and high start-up costs form barriers to keep out new competitors.
Planned Economy
Economic system in which government controls determine business ownership, profits, and resource allocation to accomplish government goals rather than those set by individual firms.
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