Module 1: Small Business Analysis Address all parts of the following questions pertaining to small business ownership as it relates to your business in the Asheville/Buncombe County area (not the area the business plan is currently set up in). Be sure to read the questions thoroughly so you do not miss any question requirements. Also, be sure to read the assignment instructions carefully as the expectation level in this assignment is considerably higher than you may have experienced in previous classes. Part 1: Supply and Demand Identify the potential economic impacts on the market for your product. Identify three (3) economic factors that could influence the supply and demand for your product/service. Your research must define each economic factor and explain how each economic factor will impact your business on each of the following levels: I. State II. Regional/Local (Asheville/Buncombe County) Summarize your plan to address the impact of each of these economic factors on your product or service for start-up and future success. Part 2. Market Structure There are four types of market structures which we addressed in BUS 110 and ECO 251: Pure competition, monopolistic competition, oligopoly, and pure monopoly. Which type of market structure does your good or service most closely align with? o Justify and support your answer by addressing the characteristics of each market structures, and how the one you chose applies and why the others do not apply to your good or service. Part 3. Developing a Sound Business Strategy Based on your research from parts 1 and 2, develop a competitive business strategy to be successful in the Asheville area given the impacts of the economy, the market structure, and the local demographics. Your business strategy should basically state why your location selection is the best location for success considering the nature of the business, the demographics of the area (typically within a 10 mile radius of a bricks-n-mortar business; 25 mile radius of a mobile service), and the local economic conditions/regulations of county.