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please solve this mcq

Forums › ACCA Forums › ACCA BT Business and Technology Forums › please solve this mcq

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by fidget.
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  • January 28, 2014 at 6:43 pm #154553
    sana
    Member
    • Topics: 10
    • Replies: 12
    • ☆

    Question 3
    Which of the following is a potential barrier to entry?
    A Government grants
    B Low regulation
    C High know-how
    D Low competition

    January 28, 2014 at 7:45 pm #154554
    fidget
    Member
    • Topics: 8
    • Replies: 207
    • ☆☆☆

    c) High know-how.

    Established businesses will have the benefit of experience under their belt which helps them be more efficient and keep the cost of overheads down, which ultimately helps keep the cost to the customer of the product/service down as well. If a new entrant lacks experience in the field, then its costs will be higher and reflected in the selling price, so it may find it difficult to get a foothold in the market due to being unable to match the selling prices of established businesses and make a profit. This could be enough to put a prospective new entrant off.

    The other three: Government Grants, low regulation and low competition in a market make it more attractive to enter as these are in the favour of new entrants.

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