Barriers to entry do not include ?
Correct answer: C. Mobility of resources
- A. Patents
- B. Internal economies of scale
- C. Mobility of resources
- D. High investment costs
Explanation
Mobility of resources helps firms enter or adjust production, so it is not an entry barrier. Patents, economies of scale, and high investment requirements can restrict entry.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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