The Big Idea: The profit motive acts as an incentive for people to produce and sell goods and services.
Why It Matters: Think about the products that you buy most frequently. Are they produced by just one company, or do you have choices about where to buy the items? Learn how competition or the lack of it determines the prices you pay.
Why It Matters: Think about the products that you buy most frequently. Are they produced by just one company, or do you have choices about where to buy the items? Learn how competition or the lack of it determines the prices you pay.
Content Vocabulary:
Section 1:
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Section 2:
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Section 3:
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Section 1: perfect COMPETITION
Section Preview: Learn about perfect competition and how this market structure benefits consumers.
Focus: Daily Focus Transparency
Graphic Organizer: Venn diagram listed affect price under perfect competition
Issues in the News: Coca-Cola Faces the Competition
Notes:
PowerPoint Presentation
Charts, Maps, and Tables:
Writing:
Focus: Daily Focus Transparency
Graphic Organizer: Venn diagram listed affect price under perfect competition
Issues in the News: Coca-Cola Faces the Competition
Notes:
PowerPoint Presentation
Charts, Maps, and Tables:
- Figure 9.1: Comparing Market Structures
- Figure 9.2: A Classic Example
- Guided Reading Activities
- Reading Essential and NoteTaking Guide
- Economic Cartoon Page 7
- Free Enterprise Activities pg 6
- Section 1 Review
Writing:
- Narrative Writing: Please write a fictional story describing a futuristic society in which there is only one university, doctor, and grocery store - in fact, there is only one of everything. Make sure to focus on how living among such monopolies impacts the daily lives of individuals.
Section 2: monopoly, oligopoly, monopolistic competition
Section Preview: Learn about three types of imperfect market structures: monopoly, oligopoly, and monopolistic competition.
Focus: Daily Focus Transparency
Graphic Organizer: Describe how much competition the seller faces and how much control over price he or she has in each type of market structure.
Issues in the News: Taming the Giant
Charts, Maps, and Tables:
Assignments:
Writing:
Focus: Daily Focus Transparency
Graphic Organizer: Describe how much competition the seller faces and how much control over price he or she has in each type of market structure.
Issues in the News: Taming the Giant
Charts, Maps, and Tables:
- Figure 9.3: A Monopoly Market Structure
- Figure 9.4: Types of Monopolies
- Figure 9.5: An Oligopoly Market Structures
- Figure 9.6: Oligopolies
- Figure 9.7: Market Structure of Monopolistic Competition
Assignments:
- Guided Reading Activities
- Reading Essential and NoteTaking Guide
- Math Practice for Economics
- Critical Thinking Activity p7
- Economic Cartoons: A Real Game of Monopoly
- Enrichment Activities: Competition and Monopolies
- Math Practice for Economics p 8
- Free Enterprise Activities
- Section 2 Review
Writing:
- Persuasive Writing: Please write a brief essay in which you argue that the brand of toothpaste you use is better than other brands. Please make sure to give specific reasons for their preference (taste, product's effectiveness, price)
section 3: government policies toward competition
Section Preview: Learn more about steps the government has taken to regulate business practices.
Focus: Daily Focus Transparency
Graphic Organizer: Listing examples of federal regulatory agencies
Issues in the News: Airline Bailouts
Charts, Maps, and Tables:
Assignments:
Writing:
Focus: Daily Focus Transparency
Graphic Organizer: Listing examples of federal regulatory agencies
Issues in the News: Airline Bailouts
Charts, Maps, and Tables:
- Figure 9.8: Mergers
- Federal Regulatory Agencies
- Cartoon Strip
Assignments:
- Guided Reading Activities
- Reading Essential and NoteTaking Guide
- Economic Concepts Transparencies, Strategies and Activities page 17
- Section 3 Review
Writing:
- Narrative Writing: Please select and conduct research on a specific merger (horizontal, vertical, or conglomerate) that occurred at any point in U.S. history. Please write an essay describing how the merger came about and, if it occurred sometime ago, its effects.
- Descriptive Writing: Please research the advances in either computer technology or music-lisening technology over the past 20 years. Write a brief report detailing and describing those changes. It should include speculation about how these technological changes have impacted prices and demand of their chosen technology
Summary
People and Perspectives: Bill Gates
Visual Summary: Chapter 9
Assessment and Activities
BusinessWeek: Spotlight on the Economy: A Window into Microsoft's Battle
Debating Economic Issues: Should Price Gougers be Punished?
Visual Summary: Chapter 9
Assessment and Activities
BusinessWeek: Spotlight on the Economy: A Window into Microsoft's Battle
Debating Economic Issues: Should Price Gougers be Punished?