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- Why a sole proprietorship could be in a perfectly competitive industry?
- Hello class, today we are going to be talking about Market Structure and Business organization
- Market Structure refers to the market that describes the nature of competition and the pricing policy. The four types of market structures are, perfect competition, monopolistic competition, oligopoly, and monopoly.
- I will be teaching you guys about Market Structure and Business Organization
- A sole proprietorship could be in a monopolistic competition industry because they are making the competive increase as well.
- Why a sole proprietorship could be in a monopolistic competitive industry?
- Why is this? Can you explain to us about it?
- Well, this is because it has the chance of only having one owner
- This is because it has the chance of only having one owner.
- But how can a sole proprietorship be in a perfectly competitive industry?
- A cooperation could be a monopoly by granting a company's exclusive rights to provide goods and services.
- How a cooperation could be a monopoly?
- Oh, also, I read online that you can get copyright or patented to not have businesses compete.
- Well, a oligopoly is where 3 companies own a market and a partnership is where 2 people split the business and split on revenue and liability.
- How could a partnership be a Oligopoly?
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