An Industry in Which Any Potential Entrant Has Access to the Same

question 21

Multiple Choice

An industry in which any potential entrant has access to the same technology and inputs as existing firms is said to be characterized by

• A) Open entry
• B) restricted entry
• C) free entry
• D) profitable entry

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Definitions:

Quarterly

Occurring every three months or four times a year.

Annuity

An investment vehicle that provides a consistent series of disbursements to a person, often employed in retirement planning.

RRSP

A registered retirement savings plan, a tax-advantaged account designed to help Canadians save for retirement.

Compounded

The process by which interest is earned on both the initial principal and the interest that has been added to it, thus "compounding" the amount.