What Is a Feature of a Product or Service That

question 56

Multiple Choice

What is a feature of a product or service that customers have come to expect and that entering competitors must match if they want to survive?

• A) Significant barrier.
• B) Entry barrier.
• C) Product differentiation.
• D) Entry chain.

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Definitions:

Sherman Act

A foundational antitrust law in the United States aimed at promoting competition by prohibiting monopolies and unfair business practices.

Antitrust Law

A body of laws and regulations aimed at promoting business competition and preventing unfair business practices such as monopolies, cartels, and mergers that limit competition.

Competition

The rivalry among businesses to attract customers, increase sales, and develop innovative products and services.

Sherman Act

A landmark federal statute in antitrust law passed by Congress in 1890, which prohibits monopolistic practices and promotes competitive markets.