ECO 365 Week 3 DQ 3 - Latest Version 2014

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List the specific barriers to entry from the text. Then fully explain the concept of barriers to entry and apply the concept to your current employer. If you do not have a current employer pick one you would like to work for after graduation.


Answer:
The text states, “Three important barriers to entry are natural ability, economies of scale, and government restrictions.” (pg 349)
1. Natural ability- a firms unique ability to create and product a product like no other at a good price. This type of barrier could create a public fear of monopolizing but it does not; they are looked at as a just monopoly.
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