Vocab and Journals12/1/15Vocab: Perfect CompetitionJournals:1.) How does a perfect market achieve equilibrium? (4)

2.) What prevents one firm from raising its prices?

3.) Fill in the Graphic Organizer on p. 159

Vocab and Journals

12/2/15

Vocab.: Barriers to Entry

Journals:1.) How can entrepreneurs overcome barriers to enter the market?

Vocab and Journals

12/3/15

Vocab: Monopoly & Natural Monopoly

Journals:1.) List the three characteristics of a monopoly and a natural monopoly.

Vocab and Journals12/4/15

Vocab: Economies of Scale

Journals:1.) What real world example for Economies of Scale does the book provide? Think of one other example.

2.) Think of a real life example of how technology has broken up a monopoly in your lifetime?? There is more than one.

Vocab and Journals12/7/2015Vocab: Patent & License

Journals:1.)How can gov’t actions lead to the creation of a monopoly? Give at least two examples.

2.) Why are patents and licenses important to our economy?

Vocab and Journals12/8/15

Vocab: Franchise & Monopolistic Competition

Journals:1.) Do you think price discrimination is fair?2.) List the four conditions of monopolistic competition.3.) How does differentiation help firms sell their products?

Vocab and Journals

12/9/2015

Vocab: Oligopoly & Trust

Journals:1.) List three oligopolies in our economy.2.) Complete a Venn Diagram comparing and contrasting Monopolies and Oligopolies.

Vocab and Journals

12/10/15

Journals:1.) Write a sentence/short story using predatory pricing, collusion, price fixing, trust and anti-trust.