What are the three main barriers to entry?

Question

Quizplus · Accepted Answer

Brand loyalty, absolute cost advantages, and economies of scale are recognized as significant barriers to entry for new competitors in a market. Brand loyalty makes it difficult for new entrants to attract customers. Absolute cost advantages allow established companies to produce goods or services more cheaply than new entrants can. Economies of scale mean that larger companies can produce goods or services at a lower per-unit cost, making it hard for smaller, new entrants to compete on price.

What Are the Three Main Barriers to Entry