Answer:
Barriers of trade
Explanation:
Barriers of trade refers are obstacles that make it difficult for new business competitors to enter an industry. It is an economic term that describes restrictive conditions to entry in a particular sector. Existing firms benefit from barriers to trade as their revenues and profits are protected.
Barriers to trade may be as a result of high start-up cost, natural reasons, or government policy. High start-up is the capital required is high that discourages new entrants. Natural reasons may include the presence of resources such as high-value minerals in specific geographical areas. Barriers to trade make the market less competitive.
