Market-created and government-created barriers
A) are the same thing.
B) are regarded by all economists as bad.
C) increase competition in markets.
D) create monopolies.
E) are problems solved only by government intervention.

Question

Quizplus · Accepted Answer

Market-created barriers, such as patents and trademarks, can lead to monopolies as they prevent competitors from entering the market. Government-created barriers, such as regulations and licensing requirements, can also lead to monopolies and restrict competition. Both types of barriers are not necessarily regarded as bad by all economists, but they can potentially harm consumers and reduce overall economic efficiency. Therefore, government intervention may be necessary to address market failures caused by these barriers.

Market-Created and Government-Created Barriers