Markets in which entry and exit are difficult are known as contestable markets.

Name: Markets in which entry and exit are difficult are known as contestable markets.
Brand: Quizplus
Rating: 4.9 (41 reviews)

Question

Quizplus · Accepted Answer

Contestable markets are characterized by the ease of entry and exit, not difficulty. This concept suggests that a market with zero or low entry and exit barriers allows for potential competition to discipline the incumbents.

Markets in Which Entry and Exit Are Difficult Are Known