What term refers to obstacles that determine how easily a firm can enter an industry?

The term that refers to obstacles determining how easily a firm can enter an industry is "Entry Barriers." Entry barriers are factors that make it difficult for new competitors to enter a market and compete effectively. These barriers can include high startup costs, stringent regulations, strong brand loyalty among existing customers, economies of scale enjoyed by established firms, and access to distribution channels. Understanding entry barriers is vital for companies and entrepreneurs as they assess the feasibility of entering a new market and strategize their approach to overcome these challenges.

Market share refers to the portion of a market controlled by a particular company or product, which does not directly relate to the challenges faced by new entrants. Exit barriers describe the difficulties firms may encounter when attempting to leave an industry, which is not the focus of this term. Competitive threats consist of factors that may pose challenges to a company's current market position but do not specifically address the barriers to new entrants.