contest ability Flashcards
1
Q
examples of contestable markets
A
the banking industry such as the entering of new banks such as monzo and revolutionary due to the deregulation of this industry.
coffe shop industry,
the coffe shop industry is contestable, people can gt a loan with a good business plan however could be difficult to get a loan with high interest rates. not big business confidence
2
Q
what are sunk costs
A
costs that a firm cannot get a return on e.g advertising and research and development
