Barriers to Entry Refer to

question 31

Multiple Choice

Barriers to entry refer to

• A)business practices or conditions that make it difficult for new firms to enter the market.
• B)governmental prohibitions regarding the establishment of businesses that are considered immoral.
• C)governmental prohibitions regarding the establishment of businesses that are considered legal but unethical.
• D)restrictive fees that are set intentionally high in order to prevent additional competition in an already highly competitive industry.
• E)strong-armed tactics that are illegal but commonly used in certain industries to hinder competition.

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Definitions:

Social Capital

The networks of relationships among people who live and work in a particular society, enabling that society to function effectively.

Managerial Skill

A set of abilities and talents that an individual possesses to effectively manage or lead a team or organization.

Organizational Strategy

A comprehensive plan outlining how a company will achieve its goals and improve its competitive position.

Competitive Global Environment

The dynamic and challenging context in which businesses operate, characterized by competition across geographical boundaries.