Barriers to entry are obstacles that make it difficult or costly for new firms to enter a market and compete with existing businesses. These can include legal requirements, high startup costs, or access to technology.
congrats on reading the definition of barriers to entry. now let's actually learn it.
The cost advantage achieved by an increase in production, allowing larger firms to produce goods at a lower cost per unit than smaller competitors.
Regulatory Licensing: Government-imposed requirement that one must obtain permission before entering certain businesses or professions, serving as a barrier to entry