De'elegance Barber and Beauty
1614 Joseph E. Boone Atlanta,Ga. 30314
2.Barber and hair grooming
3.business has been in operation for about 3 years.
4. Products sold through this business are soap, body oil, Shea butter, shampoo/conditioner, clipper spray, etc.
Services provided by this business are hair grooming, hair styling and facials.
5. There are 5 employees working in the business.(no specific number needed for business). An employee must possess skills in barbering or hair styling or have experience in cosmetology overall and must have license in order to work.
6. This business benefits the community by bringing in workers from the community; keeping them away from negativity, showing them how to operate a business, teaching them to become more family oriented, and giving them dignity and pride from being proud of their work and being able to accomplish something.
7. Any barbershop or similar businesses would be a major competitor for this business because this business tries to offer itself to communities near and far. This business remains competitive by simply satisfying the customers with good customer service.
8.Methods used to increase growth in this business would be booth renting, offering specials on scheduled days, and extending personal discounts to valued customers.
9. 3 challenges in operating this business are getting support, teaching new employees, and keeping up with trends.
10. 3 rewards from operating this business are networking, enhancing skills, and building opportunities for others and themselves.
M14 Basic Characteristics of Monopoly and Oligopoly; Monopolistic Competition and Pure CompetitionMonopoly and OligopolyA monopoly has many firms with differentiated types of products. A monopoly exists when a specific individual or an enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it. A monopoly is relatively east to enter into, but has rather narrow limits control over prices. They use competitions like advertising, using brand names, and trademarks that are nonpriced. An oligopoly has few numbers of firms with standardized or differentiated products. Their control over price is limited by mutual interdependence considerable with price fixing. There are significant obstacles to enter an oligopoly. An oligopoly uses a great deal of product differentiation as nonprice competition.
Monopoly
Other firms may be able to produce the good or service but choose not to enter the market or are barred from it.
Oligopoly
Consumers can be induced to change suppliers but have only a limited number of choices.
Monopolistic Competition and Pure CompetitionA monopolistic competition has many firms with differentiated types of products. A monopolistic competition has some but within rather narrow limits control over prices. A monopolistic competition is relatively easy to enter into. They use nonpriced competition like advertising, using brand names and trademarks. A pure competition has a very large number of firms. It ha s no control over prices and is very easy to enter into. A pure competition uses nothing as a nonprice competition.
Monopolistic Competition
Consumers can be induced to change brands but they have brand preferences.
Pure Competition
No control over prices
