Shelly Brunner owns a sports-themed restaurant which is located in an upscale business district in Chicago.
One advantage that Shelly has is that she bought the lot she built her restaurant on 25 years ago when lots in the area were selling for 50,000. Shelly knows that several potential competitors have looked at bare lots near his business but haven't been willing to pay the asking prices, which are as high as 500,000. Which of the six major sources of barriers to entry is causing a disincentive for new firms to enter Shelly's industry?
A) Capital requirements
B) Economies of scale
C) Product differentiation
D) Government and legal barriers
E) Cost advantage independent of size
Question 2
Entrepreneurial firms ________.
A) are small firms that yield a level of income for their owner(s) that is similar to what they would earn when working for an employer
B) bring to market new products and services that are not particularly innovative
C) offer to customers common products that are not particularly innovative, and provide their owner(s) the opportunity to pursue a particular lifestyle and earn a living while doing so
D) provide their owner(s) the opportunity to pursue a particular lifestyle and earn a living while doing so
E) bring new products and services to market by creating and seizing opportunities
Midway Island, an inhospitable atoll acquired in 1867, was valuable as a military base located midwa
The sense of taste. Note: taste buds are located on the anterior and posterior portions of the ...
A first aid box should be centrally located in the shop and kept stocked with the recommended ...
Sports and Fitness Timeline
The limbic system is located within the higher brain, or cerebrum.
Business Math Question