The concept of barriers to exit or exit costs from an industry is explored in this short topic video.
Barriers to exit are the costs associated with a decision to leave a market / industry
Examples of exit costs include:
Lost goodwill with customers
Redundancy costs for the workforce
Exit fees from rental agreements e.g. leases on stores or equipment
Reduced value of owned equipment sold at rock-bottom prices in a fire-sale
#aqaeconomics #ibeconomics #edexceleconomics #economics
