U1 AOS2 Vocab+concepts Flashcards by Ipsa Chatterjee | Brainscape

Q

Define

Anti-competitive behaviour

A

actions taken by a business to limit, restrict or eliminate competition in a market to gain an unfair advantage or dominate the market

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Q

Define

Barriers to entry

A

factors that make it difficult for firms to enter an industry

EXAMPLES: High start up costs for businesses, monopolies,

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Q

Define

Barriers to exit

A

factors that make it difficult for firms to leave an industry

EXAMPLES: penalties for terminating contracts, loss of reputation

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