Sole proprietorship in perfect competition

Sole proprietorship in perfect competition

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  • Sole proprietorship in Perfect Competition By Erika Miranda
  • Open for Business 
  • What was I thinking trying to turn this house into a B&B? It's so rundown the only people who will want to stay here are rodents!
  • Everyone will stay at my B&B because I have the best price plus great quality rooms and food. The quality of service I supply here will ensure a good supply of money for me!
  • Open for Business 
  • Vacancy
  • I was right, it's been 3 weeks and not a single person has stayed at my B&B, if this keeps up I will go out of business soon!
  • Its just as I said, with my low prices and great house quality I have not had a single vacancy! My business venture was a success!
  • Perfect competition, is the simplest market structure, it is a market in which a large number of firms all produce identical products and the only competing factor is price.
  • A sole proprietorship is a business that legally has no separate existence from its owner. Income and losses are taxed on the individual's personal income tax return.
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