Business, 12.10.2020 19:01 rodrickahammonds

1. Your sister is a food connoisseur. She was with you when you visited Spain last year and sees the potential success of starting an olive importing business in Toronto. Your sister excels at finance and accounting. You know you can trust her. However, this was originally your idea. You may not have the business sense that your sister does, but you are really good at making contacts and have already developed the networks necessary for success. a) What type of business ownership is most suitable to you? Identify your choice of business, explaining why you feel it is best. Include one pro and one con of this type of business ownership.

b) Success! You have sold about $600 of imported olives so far. Your total cost to run this business was $250.

i) What was your total profit:

ii) Now that you have made a profit. What are 2 things you will do with this revenue?
iii) Unfortunately there are many competitors in this industry! What will happen to the DEMAND for your product? What will happen to the price?
iv) What is something that you can do to help your business succeed? (Be specific here by using examples)

PLEASE PLEASE HELP ME!! ITS DUE IN 2 HOURS

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1. Your sister is a food connoisseur. She was with you when you visited Spain last year and sees the...

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