junea & morgan - economics
Updated: 2/27/2020
junea & morgan - economics

Storyboard Text

  • Good morning class! Today we will be learning about why a sole proprietorship could be in a monopolistic competitive industry.
  • What is a mono- monopolistic? What is that?
  • A monopolistic competitive industry is an industry with many firms and similar products or services.
  • Now how does a sole proprietorship fit into this? Well that's simple! Say you have a family recipe sauce to put on burgers then it gets famous...
  • Now you have a business growing for you BUT burgers anywhere are common and you have to keep a set price like the other companies that sell burgers. But you make your own profit, its easier to start, and there aren't as many regulations.
  • WOW! Thank You Miss! That's amazing! I want to start my own business now!
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