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  • Card 13 / 31:
    Classify the following as a government-enforced barrier to entry, a barrier to entry that is not government-enforced, or a situation that does not involve a barrier to entry.

    A patented inventionA popular but easily copied restaurant recipeAn industry where economies of scale are very small compared to the size of demand in the marketA well-established reputation for slashing prices in response to new entryA well-respected brand name that has been carefully built up over many years

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Questions & Answers

what is Labour of supply.
Eshmel Reply
it is called supply of labour
Emmanuel
it is the total number of those the producer is expected to employ at a given time and at an existing wage rate
Emmanuel
if the price of yam increases what will happen to demand curve?
Lawal Reply
the demand curve will decrease
Fatmah
with table and diagrametic illustration
Usama Reply
ok
Mustafe
if the price elasticity of demand for a commodity is zero the demand curve is
Aryan Reply
the demand curve is inelastic
Emmanuel
this is because price bring about a lesser change in quantity demanded
Emmanuel
how are we going to draw scale of preference
Achor Reply
how do we identify choice
Achor
how do we identify opportunity cost
Achor
opportunity cost is the forgone alternative. in oder words, it is the sacrificed goods or service for another. thus, the item you did not buy with the resources you have thereby buying another one is called opportunity cost. thanks
John
IAC curve is geueraly
Subham Reply
what are the benefits or tourism?
Maake Reply
please I don't understand the division of labor increase
Dery Reply
Labour increasing according to demand of company or as the condition of profit and standards or weight of working level ,,,,
SHOM
Please can someone help me With the demand of labour.
Eshmel
what are the basic concept of economics
Busanga Reply
end mean and scarcity
Dery
What the term economics?
Nuran Reply
economic is the study of mankind in the ordinary business life
Dery
want to find how can a geography teacher can contribute to the economic development of a country .
Bernadette Reply
how are u
Usama
i am fine
Purnima
it can help to prevent world wars 😂😂😂😂
Vedaant
it can help to prevent world wars 😂😂😂😂
Vedaant
what is labour
Ab Reply
labour is the skill of a person who knows the tinitiol thinks
Mustafe
labour can define both physical and mental effort of a man towards production
Chinedu
what is want, cost,
Muhammad Reply
during reccessionary and unemployment in a country which kind economic policy measure do we adopt
samuel
want is a mere demand of a commodity which is not backed by purchasing power.
marcus
ok
Tetteh
ok
Mustafe
what demand
Mustafe
demand is d desire backed up by d ability to pay
Emmanuel
demand is the purchases power
Dery
in what ways is monopolist competition different from perfect competition
Juliana Reply
The principal difference between these two is that in the case of perfect competition the firms are price takers, whereas in monopolistic competition the firms are price makers. Perfect competition is not realistic, it is a hypothetical situation, on the other hand, monopolistic competition is a pra
marcus
what is economics
Lizzy Reply
is the study of how you can make your own business to develop yourself and even the other countries
Abdifatah
the study of economic enable us to practice how to manage and arranged our daily basic of life.
Jonathan
Economics is a science that studies human behaviour as a relationship between ends and scarce means. .
Dan
Am I totally agree the scare means are the wants and beings the humans need
Anastassiya
simple meaning.....Demand and Supply
Pranav
economics is science and art economics means , branch of that knowledge which teach of economic nature
RAJESH
Economics is the study of human in relation to resources and scarce means to solve problems.
marcus
jkk
marcus
Economics is a Social Science that studies human behavior in relation to resources and scarce means to solve social problems.
marcus

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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