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An example of a barrier to entry is A) product differentiation. B) high profits. C) occupational licensing.

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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