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Asked by Ellen Likens on Jul 28, 2024

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Which of the following industries is most likely to exhibit the characteristic of free entry?

A) Mineral mining
B) Electricity
C) Fashion jewelry
D) Satellite radio

Free Entry

A market condition where there are no barriers for new competitors to enter the market and compete with existing firms.

Fashion Jewelry

Jewelry designed to complement the current fashion trends rather than serve as collectible or investment items, often made with non-precious materials.

Mineral Mining

The process of extracting minerals from the earth, which can include metals, gems, and other geological materials.

  • Acquire knowledge on the principal characteristics of a competitive market.
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Verified Answer

KP
Kevin PanditJul 30, 2024
Final Answer :
C
Explanation :
The fashion jewelry industry is most likely to exhibit the characteristic of free entry because it requires relatively low capital investment and faces fewer regulatory barriers compared to industries like mineral mining, electricity, and satellite radio, which require significant capital investments and are subject to more stringent regulations.

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