1. ECONOMICS: February 23 Economics Learning Target
In order to understand market structures, I will analyze the four different types of market structures. I will know I have it when I can list and explain the characteristics of each type of market structure in terms of: (1) number of producers/market share; (2) product differentiation; (3) influence over price; and (4) ease of entry into the marketplace.
Warm-up: What is the difference between a “price taker” and a “price maker”? Looking at the perfect competition and monopoly
market structures, which is a price taker and which is a price maker?
--conclude pre-project reading and pre-reading guide (HO from earlier)
Assignment:
--complete pre-project reading and pre-reading guide (if necessary) --read Ch. 7, Lessons 2 and 3