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Sagot :
An example of a barrier to entry is (A) product differentiation.
What is Barrier to entry?
- A high entrance cost or another form of barrier inhibits a fledgling company from entering a market and facing up against established companies.
- Government rules, the requirement for permits, and having to compete with a big company as a starting small business are all examples of entry barriers.
What is product differentiation?
- Differentiation between products is seen to be an entry barrier.
- It becomes more difficult for a new business to identify a lucrative market niche when a market is oversaturated with a broad variety of related, branded, and differentiated products.
What is occupational licensing?
- A license is needed to practice a certain profession or vocation for pay, and this type of regulation is known as occupational licensing or occupational licensure.
- It has something to do with job closing.
Therefore, an example of a barrier to entry is (A) product differentiation.
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