Market structures & buissness organizations
Storyboard Text
- Today in class we will be discussing over Buisness structure and Market structure. We will identify and define Sole Proprietership in perfect competition. Can anyone identify that for me?
- sole proprietorship in perfect cometition by Alexandra Hinojosa
- It is an uncorpirated buisness owned and run by one individual with no distinction between the buisness and the owner and are responsible for all profits for all buisness debts, losses and liabilities
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- a sole proprirship can also be part of monopolies competitive inustry for wanting to set their own terms and prices for the consumers to be benefited by keeping costs down with no competetion. Many times a company can take its routes to monoplize its industry or sector
- thats right!
- From what i remeber sole proprietorship could also be in a perfect competitive industry due to both buyers and seller being price takers, the firms are large, no barriers to entry, the products are identical, complete information and the selling firms are profit with entreprenueural firms.
- class not only do we need to idenify them being monopolistic or competitive but also how they would be in a partnership in oligopoly.
- the companies would need to work together to increase profit unlike going agianst each other. the ogligopoly is a choice of a combination of companies that have influence in market sector. the companies tend to cooperate or cordinate.
- A coorparation can also be a monopoly by using intellectual property rights, buying up the competition or hoarding a scarce resource among the other ones to monopolixe the market.
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