Asked by Filippa Hansebo on Jul 20, 2024
Verified
The threat of new competitors will enter your market is high when entry is _________ and low when there are _________ barriers to entry.
A) easy; few
B) easy; significant
C) hard; few
D) hard; significant
Entry Barriers
Factors or conditions in the marketplace that make it difficult for new competitors to enter a market or industry.
Competitors
Other businesses or individuals who offer similar goods or services, competing for the same customers or market share.
Market
A venue or environment where buyers and sellers interact to trade goods, services, or information, often setting prices through supply and demand.
- Understand the factors that contribute to the threat of new competitors entering a market, including barriers to entry.
Verified Answer
Learning Objectives
- Understand the factors that contribute to the threat of new competitors entering a market, including barriers to entry.
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