Examlex
According to the principle of __________, a rock must first exist before anything can happen to it.
Barriers to Entry
Factors that make it difficult for new firms to enter a market, such as high initial investment, complex regulation, or strong incumbent competition.
Monopoly Market
A market structure characterized by a single seller controlling the entire market supply of a product or service.
Terms of Sale
The conditions and stipulations under which a sale is conducted, including payment, delivery, and warranty details.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output decreasing with increasing scale.
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