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Barriers To Entry
In theories of competition in economics, a barrier to entry, or an economic barrier to entry, is a fixed cost that must be incurred by a new entrant, regardless of production or sales activities, into a market that incumbents do not have or have not had to incur. Because barriers to entry protect incumbent firms and restrict competition in a market, they can contribute to distortionary prices and are therefore most important when discussing antitrust policy. Barriers to entry often cause or aid the existence of monopolies and oligopolies, or give companies market power. Barriers of entry also have an importance in industries. First of all it is important to identify that some exist naturally, such as brand loyalty. Governments can also create barriers to entry to meet consumer protection laws, protecting the public. In other cases it can also be due to inherent scarcity of public resources needed to enter a market. Definitions Various conflicting definitions of "barrier to en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition (economics)
In economics, competition is a scenario where different economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm. are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, prices are typically lower for the products, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly). The level of competition that exists within the market is dependent on a variety of factors both on the firm/ seller side; the number of firms, barriers to entry, information, and availability/ accessibility of resource ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technology
Technology is the application of knowledge to reach practical goals in a specifiable and reproducible way. The word ''technology'' may also mean the product of such an endeavor. The use of technology is widely prevalent in medicine, science, industry, communication, transportation, and daily life. Technologies include physical objects like utensils or machines and intangible tools such as software. Many technological advancements have led to societal changes. The earliest known technology is the stone tool, used in the prehistoric era, followed by fire use, which contributed to the growth of the human brain and the development of language in the Ice Age. The invention of the wheel in the Bronze Age enabled wider travel and the creation of more complex machines. Recent technological developments, including the printing press, the telephone, and the Internet have lowered communication barriers and ushered in the knowledge economy. While technology contribu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Advertising
Advertising is the practice and techniques employed to bring attention to a product or service. Advertising aims to put a product or service in the spotlight in hopes of drawing it attention from consumers. It is typically used to promote a specific good or service, but there are wide range of uses, the most common being the commercial advertisement. Commercial advertisements often seek to generate increased consumption of their products or services through "branding", which associates a product name or image with certain qualities in the minds of consumers. On the other hand, ads that intend to elicit an immediate sale are known as direct-response advertising. Non-commercial entities that advertise more than consumer products or services include political parties, interest groups, religious organizations and governmental agencies. Non-profit organizations may use free modes of persuasion, such as a public service announcement. Advertising may also help to reassure employees ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Network Effect
In economics, a network effect (also called network externality or demand-side economies of scale) is the phenomenon by which the value or utility a user derives from a good or service depends on the number of users of compatible products. Network effects are typically positive, resulting in a given user deriving more value from a product as more users join the same network. The adoption of a product by an additional user can be broken into two effects: an increase in the value to all other users ( "total effect") and also the enhancement of other non-users' motivation for using the product ("marginal effect"). Network effects can be direct or indirect. Direct network effects arise when a given user's utility increases with the number of other users of the same product or technology, meaning that adoption of a product by different users is complementary. This effect is separate from effects related to price, such as a benefit to existing users resulting from price decreases as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Communication
Communication (from la, communicare, meaning "to share" or "to be in relation with") is usually defined as the transmission of information. The term may also refer to the message communicated through such transmissions or the field of inquiry studying them. There are many disagreements about its precise definition. John Peters argues that the difficulty of defining communication emerges from the fact that communication is both a universal phenomenon and a specific discipline of institutional academic study. One definitional strategy involves limiting what can be included in the category of communication (for example, requiring a "conscious intent" to persuade). By this logic, one possible definition of communication is the act of developing meaning among entities or groups through the use of sufficiently mutually understood signs, symbols, and semiotic conventions. An important distinction is between verbal communication, which happens through the use of a language, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Database
In computing, a database is an organized collection of data stored and accessed electronically. Small databases can be stored on a file system, while large databases are hosted on computer clusters or cloud storage. The design of databases spans formal techniques and practical considerations, including data modeling, efficient data representation and storage, query languages, security and privacy of sensitive data, and distributed computing issues, including supporting concurrent access and fault tolerance. A database management system (DBMS) is the software that interacts with end users, applications, and the database itself to capture and analyze the data. The DBMS software additionally encompasses the core facilities provided to administer the database. The sum total of the database, the DBMS and the associated applications can be referred to as a database system. Often the term "database" is also used loosely to refer to any of the DBMS, the database system or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Computer
A personal computer (PC) is a multi-purpose microcomputer whose size, capabilities, and price make it feasible for individual use. Personal computers are intended to be operated directly by an end user, rather than by a computer expert or technician. Unlike large, costly minicomputers and mainframes, time-sharing by many people at the same time is not used with personal computers. Primarily in the late 1970s and 1980s, the term home computer was also used. Institutional or corporate computer owners in the 1960s had to write their own programs to do any useful work with the machines. While personal computer users may develop their own applications, usually these systems run commercial software, free-of-charge software (" freeware"), which is most often proprietary, or free and open-source software, which is provided in "ready-to-run", or binary, form. Software for personal computers is typically developed and distributed independently from the hardware or operating sys ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables an increase in scale. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of market control. This is just a partial description of the concept. Economies of scale apply to a variety of the organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea of obtaining larger production returns through the us ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zoning
Zoning is a method of urban planning in which a municipality or other tier of government divides land into areas called zones, each of which has a set of regulations for new development that differs from other zones. Zones may be defined for a single use (e.g. residential, industrial), they may combine several compatible activities by use, or in the case of form-based zoning, the differing regulations may govern the density, size and shape of allowed buildings whatever their use. The planning rules for each zone determine whether planning permission for a given development may be granted. Zoning may specify a variety of outright and conditional uses of land. It may indicate the size and dimensions of lots that land may be subdivided into, or the form and scale of buildings. These guidelines are set in order to guide urban growth and development. Zoning is the most common regulatory urban planning method used by local governments in developed countries. Exceptions include the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariffs
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. '' Protective tariffs'' are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and reduc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Switching Barriers
Switching costs or switching barriers are terms used in microeconomics, strategic management, and marketing. They may be defined as the disadvantages or expenses consumers feel they experience, along with the economic and psychological costs of switching from one alternative to another. For example, when telephone service providers also offer Internet access as a package deal they are adding value to their service. A barrier to switching is then formed as swapping internet services providers is a time consuming effort. There are a range of different switching costs that fall under three main categories: procedural switching barriers, financial switching barriers, and relational switching barriers. Procedural switching barriers refer to the time and resources associated with changing to a new provider; financial switching barriers refer to the loss of financially measurable resources; and relational switching barriers look at the emotional inconvenience from the breaking of bonds and l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Airport
An airport is an aerodrome with extended facilities, mostly for commercial air transport. Airports usually consists of a landing area, which comprises an aerially accessible open space including at least one operationally active surface such as a runway for a plane to take off and to land or a helipad, and often includes adjacent utility buildings such as control towers, hangars and terminals, to maintain and monitor aircraft. Larger airports may have airport aprons, taxiway bridges, air traffic control centres, passenger facilities such as restaurants and lounges, and emergency services. In some countries, the US in particular, airports also typically have one or more fixed-base operators, serving general aviation. Operating airports is extremely complicated, with a complex system of aircraft support services, passenger services, and aircraft control services contained within the operation. Thus airports can be major employers, as well as important hubs for to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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