Barriers to entry
The Chartered Institute of Procurement & Supply (CIPS) Glossary of procurement terms, defines barriers to entry as: ‘Often high costs or high levels of competition, linked to supplying a new product or service into a market.’
The glossary of statistical terms, published by the Organisation for Economic Co-operation and Development (OECD), defines barriers to entry as: ‘…factors which prevent or deter the entry of new firms into an industry even when incumbent firms are earning excess profits.’
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