Feb 24
2 min read
Language as a Barrier to Entry
In economics, the concept “barrier to entry” refers to the difficulty (or lack thereof) of competitors being able to enter an industry and compete with existing competition.
If it is relatively easy for a new competitor/entrant to start a business competing with the existing businesses, then we would say the existing industry has low barriers to entry. Conversely, if it is hard to enter an industry, we say the…
