Examlex
Which one of the following is a modern example of a quality-monitoring instrument?
Barriers To Entry
Factors that prevent or hinder new competitors from easily entering an industry or area of business, often maintaining high levels of profit for those already established.
Product Differentiation
The process of distinguishing a product or service from others in the market to make it more attractive to a particular target market.
Monopolistic Competition
A market structure where many firms offer products that are similar but not perfect substitutes, allowing for some degree of market power.
Advertising
The act of promoting a product, service, or brand through various forms of media in order to attract and retain customers.
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