Barriers to Entry

question 51

Multiple Choice

Barriers to entry:

• A) Can be cyclical
• B) Can involve the legal constraints leveling the playing field
• C) Can include customer loyalty
• D) Are not important to small firms

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Definitions:

Fisheries

The industry or activity of catching, processing, and selling fish and seafood.

Resource Problem

Challenges associated with the allocation, use, and sustainability of resources, impacting economic and environmental outcomes.

Running Out

A situation where a resource or supply becomes scarce or is completely used up.

Oil

A natural resource used predominantly as a fuel source and in the production of various chemicals and materials.