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August 13, 2021

Market Structure and Business Strategy/ Profitability

General Questions

– Hypothetical scenario

Suppose that there are two different types of industries – (1) the fruit industry, and (2) the clothing industry. Develop a two-page essay discussing the following questions.

1. Which of the above-mentioned industries might fit better into the category of perfect competition? Discuss this from an economic perspective, and do not just share your opinions/thoughts.

2. What type of business strategy in each industry might promote sales revenue?

3. Is there any biblical principle you can identify based on your discussions from section 1 and 2?

The short essay must comprise the following structures with sections and headings:

Section 1: Perfect Competition

Section 2: Business Strategy

Section 3: Biblical Application

Please note that I will not review your actual essay before your final submission.

– All papers must use a minimum of 3 sources. You must cite only peer-reviewed journal articles although the textbook is an acceptable source (however, keep in mind that the textbook is not peer-reviewed resource though).

– You MUST NOT cite online sources or any articles without year of publication and author’s name. Also, you should not cite Wikipedia and investopedia.

– All papers must follow all APA requirements. (I am only looking for accuracy of APA formatting for references)

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