Draw the Model of the Communication Process in Action,including All

question 9

Essay

Draw the model of the communication process in action,including all steps of the process.Briefly explain each step.Develop an example from your own life to illustrate each step.

---

Definitions:

Single Firm

Refers to an individual business entity that operates in a market, typically producing goods or services.

Monopoly

A market structure in which a single seller dominates the market for a particular good or service, without any close substitutes.

Monopolistic Industry

An industry dominated by a single firm that has control over pricing and the market, facing little to no competition.

Blocked Entry

A condition in a market where barriers prevent new firms from entering, often leading to reduced competition and allowing existing firms to maintain higher prices and profits.