Conditions That May Prevent New Firms from Entering an Industry

question 20

Multiple Choice

Conditions that may prevent new firms from entering an industry (e.g., the use of patents) are referred to as

• A) Barriers to entry.
• B) Roadblocks.
• C) Unfair trade practices.
• D) Insider trading.
• E) Trade protectionism.

---

Definitions:

Wabi Aesthetic

A traditional Japanese aesthetic centered on the acceptance of transience and imperfection, characterized by simplicity, modesty, and appreciation of the organic nature of objects.

Tea Ceremony Utensils

Tools and items used in the traditional ritual of the Tea Ceremony, which varies in different cultures, notably Japanese (Chanoyu) or Chinese (Gongfucha).

Vietnamese Ceramics

A significant form of art and industry in Vietnam, known for its unique styles, techniques, and history dating back several centuries, including both utilitarian and decorative items.

Korean Ceramics

Refers to the highly regarded pottery and porcelain produced in Korea throughout history, known for its technical excellence, distinctive glazes, and innovative designs.