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Firlakuza [10]
3 years ago
7

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict

entry into their market by professionals from other states. This strategy limits ________ growth strategies.
a. Product proliferation
b. Market development
c. Market penetration
d. Diversification
e. Product development
Business
1 answer:
Rudiy273 years ago
7 0

Answer:

The correct answer is letter "B": Market development.

Explanation:

Market development implies individual professionals and organizations to expand their operations whether focusing on a new sector of the market or by starting their business in different regions. Besides increasing profits, market development allows them to diversify their clientele which is a strength for the business in front of adverse economics situations.

Thus, if a state creates licensing requirements for lawyers and accounts to restrict their entry from other regions, <em>that state is limiting market development</em>.

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