Kennedi N: Monopolistic Competition-Sole Proprietorship
טקסט Storyboard
- שקופית: 1
- I should start an food truck business. First, I need to go out and buy and food truck and name it "Cooking with Kennedi"
- שקופית: 2
- Since I am a sole proprietorship, I can easily thrive in a monopolistic competitive industry because this market structure features low barriers to entry and highly localized, differentiated products.
- I need to take in that in a monopolistic competition, a market structure defined by many firms offering similar but different products, the presence or absence of competition dramatically shapes how supply and demand behave.
- שקופית: 3
- Since I am doing a sole proprietorship business, I have the advantages of an easy set up, full control, simple taxes, and I get all the profit. I also need to know my disadvantages like, unlimited liability, harder funding, and limited lifespan.
- Oh no! There are multiple people here selling hamburgers. I should create a new secret sauce.
- Now that I created my new sauce, everyone wants some! I need to make sure I have enough ingredients to continue making my sauce.
- COOKING with KENNEDI