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ENTRY BARRIERS: Institutional, government, technological, or economic restrictions on the entry of firms into a market or industry. The four primary barriers to entry are: resource ownership, patents and copyrights, government restrictions, and start-up costs. Barriers to entry are a key reason for market control and the inefficiency that this generates. In particular, monopoly, oligopoly, monopsony, and oligopsony often owe their market control to assorted barriers to entry. By way of contrast, perfect competition, monopolistic competition, and monopsonistic competition have few if any barriers to entry and thus little or no market control.
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MACROECONOMICS The branch of economics that studies the entire economy, especially such topics as aggregate production, unemployment, inflation, and business cycles. It can be thought of as the study of the economic forest, as compared to microeconomics, which is study of the economic trees.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life." -- Victor Hugo, Writer
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AAO
Authorized Acquisition Objective
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