Market Structures & Business Organization
Storyboard Text
- Partnership in Oligopoly
- Where to begin...
- Here we will be answering the questions above each box you see!
- Why a sole proprietorship could be in a monopolistic competitive industry?
- Since a sole proprietorship is only one single person running a business being in a monopolistic competitive industry could be a hit or miss.
- I totally agree, since in a sole proprietorship they take full liability for any instances that may occur.
- Now a partnership in an oligopoly is a few individuals that are in a business together, with this being said they could be as small as a mom & pop type of business or something along the lines of Wally World.
- Why a sole proprietorship could be in a perfectly competitive industry?
- I strongly believe a sole proprietorship would succeed within a perfectly competitive industry, there's plenty of businesses & products.
- Here we are going to get into the introduction, characters meeting to discuss the questions they have come up with in the top of the boxes you see presented in this storyboard. Enjoy!
- How a corporation could be a monopoly?
- Now a corporation in a monopoly? Corporations are dominant forms of businesses, what do you think?
- Here our characters will be discussing why a sole proprietorship could be in a monopolistic competitive industry. The advantages & disadvantages.
- How could a partnership be an oligopoly?
- We know that a partnership is multiple people running a business & an oligopoly is a few large profitable firms competing.
- Now on this box our characters will debate why a sole proprietorship could be in a perfectly competitive industry. They will discuss the ins and outs, then also what a perfectly competitive industry is.
- I've got to agree with you again, a sole proprietorship has so many opportunities to be successful with their pricing and products.
- In this box our characters will talk about how a corporation could be a monopoly. They'll get into the advantages and disadvantages as well.
- I can see why you're a bit standoffish about it, I am too. But maybe there's the chance it could make it, they'd have unlimited control over a price
- Here they will go onto discuss our last question, how could a partnership be an oligopoly. They will discuss the advantages and disadvantages as well.
- You're very right! A partnership, knowing its characteristics could be an oligopoly. Multiple people running a large firm doesn't sound too bad.
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