1. ECONOMICS: February 22
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?
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.
--complete pre-project reading time on market structures -reading notes (HO from yesterday) Assignment Read Ch. 7, Lesson 1