2nd economic project
Storyboard Text
- market structure and business organization Benjamin Kline 8th period economic
- i did not even know that a sole-proprietorship could be in a perfectly competitive industry. i also didn't know that it only works if it responds to the customers who buy.
- a market structure also has for categories: perfect competition, monopolistic competition, oligopoly and, monopoly
- did you know the market structures refer to how different industries are classified and differentiated based on the competition for goods and services.
- yes i did, but the market structure also is a structure that is based on characteristics that influence the outcomes of companies working in a specific market.
- doesn't a sole proprietor ship have to do with a monopolistic competitive industry. isn't it because of the low start up cost because its easier to get into the market.
- and a owner of a business or cooperation in the market of this type can sell or inherit parts of the business.
- a monopolistic competition is when many companies compete in an open market to sell products that are similar, but not identical.
- did you know that a sole proprietorship could be in a perfectly competitive industry as long as it responds to the signals by customers who buy and which quantity.
- did you know by the governments granting a company's exclusive rights to provide goods and services.
- isn't that where a cooperation could be a monopoly.
- yes
- isn't that where a partner ship can be a oligopoly as long as there is two or more people that own the company's in market that has a few big business
- now we both understand a market structure.
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