A young man in a pinstriped suit, black shirt and white tie comes up to you and asks if you want to flip a coin for a dollar. Feeling lucky you agree. You call "tails" eight times in a row and you lose each time. You begin to wonder if the coin is biased. 
Definitions:
Pure Competition
Market structure, in which large numbers of buyers and sellers exchange homogeneous products and no single participant has a significant influence on price.
Entrepreneurs
Individuals who initiate, manage, and assume the risks of a business venture in order to bring new products or services to the market.
Resource Allocations
The process of assigning and distributing available resources, such as time, money, and manpower, among various projects or departments to achieve organizational goals.
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