Unit 1: Fundamentals of Economics
Economics and Choice
· Chapter 1:The Economic Way of Thinking
· Chapter 2: Economic Systems
· Chapter 3: The American Free Enterprise
Unit 2: Microeconomics
Market Economies at Work
· Chapter 4: Demand
· Chapter 5: Supply
· Chapter 6: Demand, Supply, and Prices
· Chapter 7: Market Structures
Unit 3:
Types of Business Organizations
· Chapter 8: Types of Business Organizations
Unit 4: Macroeconomics
Money and Banking
· Chapter 10: Money and Banking
Unit 5:
Measuring and Monitoring Economic Performance
· Chapter 12: Economic Indicators and Measurements
· Chapter 13: Facing Economic Challenges
Unit 6:
The Role of Government in the Economy
· Chapter 14: Government Revenue and Spending
· Chapter 15: Using Fiscal Policy
Unit 7:
The Global Economy
· Chapter 16: The Federal Reserve and Monetary Policy
· Chapter 17: International Trade
Unit 8:
Personal Finance
· Chapter 11: Personal Finance & Financial Markets /
CP Economics Organizer
Chapter 7: Market Structures
The Big Picture:
Perfect Competition. Most competitive, ideal model of a market economy. Monopolistic Competition. Highly competitive, distinguished by product differentiation and non-price competition. Oligopoly. Less competitive, a few firms dominate a market. Monopoly. Least competitive, fairly rare in a market economy. Role of Government. May allow a natural monopoly (public utilities) when one supplier can provide a service most efficiently. Regulates utilities to protect consumers. Patents give inventors exclusive property rights over their invention or process for a limited period of time. Results in technological monopolies. Antitrust laws promote competition by allowing mergers that benefit consumers and blocking mergers that increase market concentration or lead to the elimination of possible competitors.Unit Pacing: / Homework
(Reading Assignments) / Key Terms and Phrases:
____– Perfect Competition
____ –Imperfectly Competitive Markets
____ –Market Regulation Placards
____—Video Analysis: Walmart 1 & 2
____-- RETEACHING ACTIVITIES: Sections 1, 2, 3 & 4
____—Chapter 7 Vocabulary Quiz & TEST
____-- Unit Benchmark #2 TEST / ____– Read p. 192-195
____—Read p. 198-211
____ – Read p. 214-218
____—Study Ch. 7 Vocabulary Quiz & TEST / 1. Economies of scale
2. Deregulation
3. Trusts
4. Antitrust Legislation
5. Laissez-faire
6. Subsidies
7. Differentiate
8. Non price competition
9. Profits
10. Advertising
11. Oligopoly
12. Market share
13. Start-up costs / 14. Monopoly
15. Interdependent pricing
16. Perfect competition
17. Monopolistic competition
18. Imperfect competition
19. Market structure
20. Market
21. Price wars collusion
22. Collusion
23. Cartels
24. Barrier to entry
25. OPEC
Essentials Questions:
1. How is the market price in a perfectly competitive market related to the equilibrium price?
2. Explain the basic characteristics of monopolistic competition and pure competition.
3. What is the difference between regulation and deregulation? / GPS
1. SSEMI4c
Course Website: http://www.gocats.org