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    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 a monopsony?
Allan Reply
economic is tha process of banking
hashmat Reply
Pls can u explain it into details
Praise
Cause I don't understand what you are saying
Praise
brownies price is 5$ quantity demand is 5000$ supplied is 3000 if brownies are not taxed how many are consumed?
Fel Reply
what is unemployment
Rita Reply
ok so what would u say is supply in your own terms
Odessa Reply
Ok
fedaa
ya
Lal
why the demand curve is downwards sloping and supply upward sloping
Odessa Reply
the dd curve is downward sloping because consumers dd less when price is high and vice versa the ss curve is upward sloping suppliers are willing to produce more when prices are high
Clifford
what is dead weight loss
jeremy
when the prices of supplies slop upward then the prices of demand curve will increases downward
Kerubino
Why scarsity is considered to be very important in the study of economics
Sesay Reply
How can you solve the problem of scarcity
Sesay
If there is a enough quantitative the problem of scarcity would be solved.
Kerubino
what is demand
aliyu Reply
Demand refers to the quantities of a commodity which consumers are willing and are able to buy at given prices.
Okonji
demand is the number units of goods or services that buyers are willing and able to buy at verous prices
muhiyadiin
what is a full form of GDPCP?
Sadhna Reply
if the price of a commodity is at 6$, is the magnitude of the excess supply
Emma Reply
The quantity supplied at a price above or higher than $6 would be the excess supply
Elisha
2003, and $12,700 in Korea. Assume the growth rates for each country remain the same. 1. Compute the doubling time for
busywork
6$ the quantity remained the same
Sekou
write shirt note of the following terms normal goods
Adamu Reply
what is normal goods
Adamu
what is a full form of GDPCP?
Sadhna
evaluate measures to remove the deflationary gap?
Tinotenda Reply
State four importance of economics
School Reply
1) Economics help us to know how gouvernement,society, individuals and house holds allocate scarce resources 2)Economics help give us valable knowldge on daily decisions 3)Economics also help us to better understand economy 4)Economics help us better our daily life
Blessing
thank you dr
BLESSED
what is scarcity?
MCclean Reply
what is economics
MCclean
why is economics not consider as pure science?
Stanly
Economics is defined as science that studies human behaviour as a relation between ends and scarce means
School
Economics is not considered as pure science because it only deals with currency and human behaviour...
School
Scarcity refers to a limited supply of goods and services
School
What is Stock exchange?
Rock Reply
An exchange where security trading is conducted by professional stockbrokers
Bnysn
A place where scurity trading is conducted on an organised system
Blessing

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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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