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College accpentance
Imagine this: two boys, William and Scott, open up separate lemonade stands in their local area. Each hires one boy to juice the lemons and one to package and distribute the lemonade. Their costs, prices, and net profits are equal. Now let’s say that William’s lemonade stand also contains a research and development sector, over which he presides, and he has created a mechanical juicer that can juice a lemon twice as fast as any human, with the push of a button. William then decides that he can lay off his human juicer, instate the mechanical one in his stead, and lower the price of lemonade by fifteen percent, thus attracting twenty percent more customers and producing a net yield of twenty percent more revenue. Meanwhile, Scott, a victim of innovative exclusion, loses customers to William and suffers from sour lemons – grapes, rather.
Such is a simplified account of the ruthlessly competitive business world in action. Businesses are constantly striving to outperform each other through efficient methods of production and skilled management strategy. As a young, aspiring entrepreneur, I once
Approximate Word count = 748
Approximate Pages = 3 (250 words per page double spaced)
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