The creation of properly scaled examples of these concepts is equated with the problem of defining ownership in a paper by George Demsetz that contrasts the definitions of these concepts given by Joe Bain, James Ferguson, and George Stigler. A force that is [emphasize] mitigated by these concepts is analyzed alongside competitive rivalry, the threat of substitutes, and two forms of bargaining power in Michael E. Porter’s five forces framework. Exclusive dealing is an example of the “strategic” type of these concepts, which is created deliberately, in contrast to the “structural” type, which arises from inherent industry conditions. These concepts, which include capital requirements and economies of scale, are low in monopolistic competition and absent in perfect competition. For 10 points, name these obstacles that prevent new businesses from coming into a market. ■END■
ANSWER: barriers to entry [or entry barriers; or economic barriers to entry; accept structural barriers to entry; accept strategic barriers to entry; prompt on barriers]
<Social Science>
= Average correct buzz position