Aim: Why do businesses in different industries experience varying degrees of competition in a market economy and what is the impact of that competition on consumers, society and the government?
Bell Ringer: Read "Profiles in Economics" re: Bill Gates (10 min) p.178
Objectives:
- 1. Students will compare the basic characteristics of the four market structures (monopoly, oligopoly, monopolistic competition, pure competition).
Agenda:
- 1. Bell Ringer (10 min)
- 2. Journal 38 – If Americans traditionally dislike monopolies, why do some monopolies exist today? What types of monopolies are they, and what are their characteristics? (10 min)
- 3. Complete the note-taking guide (Market Structures) using their textbook (McGraw-Hill Economics Principles and Practices pp. 168-167193), online resources, or class notes as appropriate. (rest of class)
Home Learning:
- Work on designated section of the NTG
- Section 2 Review: 2 – 4 / to be completed in the additional boxes located at the end of the NTG
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