2nd six weeks project
Storyboard Text
- Introduction
- Hi I am Bob.
- And I am Jerry. We will be teaching you about market structure and business organization.
- Definitions
- Whoever can tell me what market structure and business organization is can get the ball first!
- Well ref market structure is how industries are classified based on how competitive they are. There are 4 of them and they are pure competition, monopolistic competition, oligopoly, and monopoly.
- looks like I am not getting the ball. :(
- Hey Jerry, today in class I learned that a monopolistic competition is when you sell similar products that are not identical in a open market.
- Why a sole proprietorship could be in a monopolistic competitive industry?
- Well that is better than me, I learned that a sole proprietorship could be in a monopolistic industry because sole proprietorship is owned by one person and they compete with small business. Which makes them dominate the market.
- Why a sole proprietorship could be in a perfectly competitive industry?
- I actually do know that! It only can if the firm if they respond to the customers who bought their product.
- Hey Bob, do you know why a sole proprietorship could be in a perfectly competitive industry?
- How a corporation could be a monopoly?
- One of the only ways it could be come a monopoly is if the government gives them rights to private goods and services.
- Bob if you can answer, how a corporation could be a monopoly?, then we will go to OT and it will be tied 21-21.
- 21
- How could a partnership be an oligopoly?
- I have no clue we lose!
- whoever can tell me how could a partnership be an oligopoly? wins
- Its would work with a partnership because you would need two or more people to own firms, and you can work together to take over the particular market.
- 28
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