What Is an Entry Barrier

question 105

Multiple Choice

What is an entry barrier?

• A) A product feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive
• B) A service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive
• C) A product or service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive
• D) A product or service feature that customers no longer expect from organizations in a particular industry and do not need to be offered by an entering organization to compete and survive

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Definitions:

Common Law

A legal system characterized by judicial decisions that are recognized as binding, forming a body of law developed through court decisions over time.

Checking Account

A bank account that allows depositors to write checks and make withdrawals, often used for daily financial transactions.

Drawer's Account

Refers to the account from which a check is drawn; the account belongs to the drawer (the person who writes the check).

Payee

A payee is a person or organization to whom money is paid or is to be paid.