Corporation in Monopoly
Storyboard Text
- How could a corporation be a monopoly? Well, if the corporation beats out other competitors, then that corporation will dominate the market, and people will focus on buying from a single company.
- Monopoly: Type of market structure where a large number of small firms compete against each other.Corporation: A legal entity that is separate from its owners, with the ability to enter into contracts, own assets, and be held liable for its actions.
- Jacob Youngblood
- Competition wlll impact supply/demand in more ways than one. A lack of competition will lead to people buying specific goods and services. But with a present competitor, these supplies will accept the market price.
- Competition = products having Market PriceLack of Competition = Purchases from one company
- There are advantages/disadvantages of corporations. One advantage is the opportunity of growth, by raising money and even making bonds with other companies. One disadvantage, however, is a potential loss of control by the company's founders.
- AdvantagesLimits liability for stockholders, opportunity for growth, the owners do not have to run the company, and can do business indefinitely.
- DisadvantagesDifficulty of start up, potential loss of control, and more legal requirements and government regulations than other organizations.
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