that project

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Storyboard Text

  • Eli and Jacob shut up and present about economic stuff already
  • no
  • i'll fail you
  • fine
  • Sole proprietorship exist only in monopolistic competitions. In oligopolies or monopolies sole proprietorship do not occur.
  • Why?
  • Monopolistic competitions are characterized by many buyers and many sellers. Because there are many sellers, there is much competition. Much competition tells us that no single business controls the market.  From the fact that no business or businesses control the market, we can also know that businesses that make up the market aren't big or powerful. Therefore small businesses including sole proprietorship are the types of businesses that dominate this type of market....
  • ...And In an oligopoly, several large businesses control the market. They come together and often set prices. Sole proprietorships definitely aren't large businesses and they can't be seen in oligopolies. If a sole proprietorship or other types of small businesses tried to enter an oligopoly, they would fail because it would be close to impossible for these small businesses to compete with the large businesses. 
  • im willing to bet we failed this
  • ...and that's literally all we know about market structure, sorry we couldn't have anymore info for you
  • most likely
  • Perfect competitions also would provide ideal circumstances for sole proprietorships to develop. However, as we know, perfect competitions do not exist in the real world...
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