Module 9 Assignment
Completion requirements
Respond to the question prompt below:
Explain what is meant by the term "barriers to entry," and provide an example of each. Discuss each example.
Instructions
Respond
to the question prompt by submitting your typed response in no more
than a one-page double spaced document in 12 pt, Times New Roman. Your
response should be submitted by the deadline. This response will be
graded with the writing rubric. (instructional faculty should edit this
section to fit the desired expectation)
SLOS
This assignment addresses the following outcomes (and potential outcomes based on responses):
- Course SLO1: Identify the basic economic principles that serve as the foundation of economic analysis
- Course SLO 7: Analyze the performance of firms under different market structures
- Module SLO 1: Distinguish between a natural monopoly and a legal monopoly.
- Module SLO 2: Explain how economies of scale and the control of natural resources led to the necessary formation of legal monopolies
- Module SLO 3: Analyze the importance of trademarks and patents in promoting innovation