Examlex
If 5 minutes passes between customer arrivals then the ________ is 12/hour.
Price Searchers
Firms or individuals who actively seek out and compare prices in an effort to find the most favorable market conditions.
Price Takers
Economic agents who accept the prevailing market prices and have no influence over them due to their small market share.
Barriers To Entry
Obstacles that make it difficult to enter a particular market, such as high start-up costs, access to technology, or strict regulations.
Dynamic Process
A process characterized by constant change, activity, or progress.
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