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- The Tale of BusinessBy Cameron Bohlke
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- How a sole proprietorship could be in a monopolistic industry
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- How a sole proprietorship could be in a perfectly competitive industry
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- Man in Brown: I don't know how I'm going to do this by myself in this industryMan in Blue: If you don't mind me asking what are you doing?Man in Brown: Well I'm trying to act as a sole proprietorship in this industry, but unfortunately it is a monopolistic competitive industry.
- How a corporation could be a monopoly
- Man in Blue: Perhaps I could help you with this dilemma with a little explanation. You see in this type of market they all have similar products but they are not exact just like when you see a gas station on every corner they all sell the same if not similar gas, but they have a name and some small design that sets them apart. Perhaps you could set up a shop with your sole proprietorship, and you will be able to survive in the market, but this does not allow for expansion or mass production as a sole proprietorship is not really built for such a thing.
- Partnerships in Oligopolies
- Man in Brown: What if I entered a purely competitive market?Man in Blue: That would probably be your best option as everyone sells the same product and price fluctuation isn't a very common thing in this market as no one can fully own the market as there are so many firms. Not to mention they are normally very easy to get in and out of so you can get into business fast.
- The End
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- Man in Blue: Now you may be wondering why we are here on this factory floor. This is an example of a corporate monopoly as the motorcycle you see in the back is so tailor-made and special that really only this one corporation has the resources to produce it and for that reason, they control this whole area of the motorcycle industry.Man in Brown: That makes sense lucky I don't think I'm going this big.
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- Man in Brown; Why are we in the desert?Man in Blue: To show partnerships in Oligopolies with what is hidden under the sands. You see a small group of companies own the oil industry and therefore control the prices. They do this through a partnership also known as cartels in this case.Man in Brown: Wow I never even thought about this and it is in my everyday life.
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- Man in Blue: So have you learned anything today?Man in Brown: I never knew there was so much to business I think I need to go home and process all of this.
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