1. Provide a brief summary (in your own words) of the company (i.e., history of the company). Capital One, which is headquartered in McLean, Virginia, was founded in 1988 by Mr. Richard D. Fairbank. He wanted to bring information, testing, technology, and amazing people to the team. So, that they could work together to bring financial products straight to consumers that had been customized. Capital One is one of America's top ten banks because of deposits. Capital One offers products and services to commercial clients, consumers, and small businesses.
2. Explain what the company does to turn a profit.
Capital One does a variety of things to turn a profit. Like most banks they give out loans, let people invest, and they
…show more content…
Because of that elimination, I have found that my company falls under monopolistic competition category.
4. Explain why you feel it is this particular degree of competition.
I feel it falls under this degree of competition because there are many banks in America. It is not just one bank or a few banks that have control. There are thousands of banks that compete with each other to get people to chose their banks. The banks also offer different products and services. The banks are not offering the same products and services. Because of this I feel that my bank fits under the monopolistic competition category.
5. What are the current numbers on job growth compared to last year or the within the past five years-be specific!
According to the Bureau of Labor Statistics, in May 2016 there were eight thousand jobs added in the Financial Department. They mentioned that even though the Financial Department was weak in the month of May, over the past year there have been one hundred fifty-seven thousand jobs added to the Financial