Examlex
Under private enterprise,production is guided by ____________________________.
Entry Barriers
Obstacles that prevent or hinder new competitors from easily entering an industry or market.
Inverted-U Theory
A hypothesis suggesting that a variable can produce effects that increase to a point after which further increases in the variable lead to a decline in the effect.
Industry Concentration Ratios
Statistical measures that express the extent to which a small number of firms dominate the total output, sales, or capacity in an industry.
R&D
Research and Development; a dedicated business or policy activity aimed at investing in new knowledge, product development, and innovation improvement.
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