Econ Project
Storyboard Text
- Well first off a sole proprietorship is a company owned by one person that is responsible for all liabilities. So yes, it would thrive in a monopolistic competitive market, because they increase the competition
- Laci DuddingtonPeriod 2
- Could a sole proprietorship be in a competitive market?
- A sole proprietorship simply refers to a person who owns the business and is personally responsible for debts. People involved in sole proprietorship's in perfect competition compete on the prices of the same product only different quality.
- What is a sole proprietorship in a perfect competition market?
- A monopoly is when one company and its product dominate an entire industry whereby there is little to no competition and consumers must purchase that specific good or service from that one company.
- An oligopoly occurs when multiple companies, businesses, or firms in a specific industry become so influential that it discourages the creation of new firms
- How could a partnership be an oligopoly?
- What is a monopoly corporation?
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